GK
WORLD HISTORY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a system of trade between nations without high fees, or tariffs
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a military strategy of using surprise attacks by small bands of fighters
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the complete control of an empire by using regional governors
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an economic system in which nations increase their wealth and power through colonization.
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Detailed explanation-1: -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-2: -Mercantilism was a popular economic philosophy in the 17th and 18th centuries. In this system, the British colonies were moneymakers for the mother country. The British put restrictions on how their colonies spent their money so that they could control their economies.
Detailed explanation-3: -Mercantilists argue that a nation’s wealth is tied to its stocks of money, particularly the acquisition of precious metals. By this logic, any money leaving a country-including money traded for imports-means a loss of national wealth. As a result, mercantilists advocate for protectionist trade policies.