FIRST CONTACTS 28000 BCE 1821 CE
PRE COLUMBIAN AMERICA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Control trade to maintain more exports than imports
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Control trade to maintain more imports than exports
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Allow merchants to trade however they’d like
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Open trade between colonies and the rest of the world
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Detailed explanation-1: -Mercantilism was based on the idea that a nation’s wealth and power were best served by increasing exports and reducing imports. It’s characterized by the belief that global wealth was static and that a nation’s economic health relied heavily on its supply of capital.
Detailed explanation-2: -The mercantilist goal was to maximize a nation’s export surplus-the balance of trade, which was equated with the future prosperity and power of the realm-and the means were cheap production inputs, that is, cheap raw materials (for which colonies proved useful) and cheap, and therefore poor, labor at home.
Detailed explanation-3: -Mercantilism exists to increase a country’s wealth through its exports. British economic growth was propelled by raw materials supplied by its colonies so the nation could export finished products. Mercantilism brought about many acts against humanity, including slavery and an imbalanced system of trade.