Question

Which economic system prevalent in Europe in the sixteenth century involved using one’s wealth to create more wealth?

Answer 1

During the 16th century, Europe’s economic condition was not good at all. People used one’s wealth to generate more wealth and it was known as Mercantilism.

This is how the rich were becoming richer day by day and the poor was getting poorer day by day. This imbalance was bringing down the economic rate.