BUSINESS ADMINISTRATION
INTERNATIONAL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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import
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export
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Detailed explanation-1: -The practice of mercantilism discouraged countries from exporting but encouraged them to import the goods they needed. Those who follow the mercantilist doctrine would not want government intervention to be the reason for a surplus in the balance of trade.
Detailed explanation-2: -Mercantilism was a form of economic nationalism that sought to increase the prosperity and power of a nation through restrictive trade practices. Its goal was to increase the supply of a state’s gold and silver with exports rather than to deplete it through imports. It also sought to support domestic employment.
Detailed explanation-3: -Mercantilism advocates that governments should actively intervene in international trade to maintain a trade surplus.