USA HISTORY

Detailed explanation-1: -Mercantilism is an economic practice by which governments used their economies to augment state power at the expense of other countries. Governments sought to ensure that exports exceeded imports and to accumulate wealth in the form of bullion (mostly gold and silver).

Detailed explanation-2: -Mercantilism was based on the idea that a nation’s wealth and power were best served by increasing exports and reducing imports.

Detailed explanation-3: -Mercantilism is an economic policy that is designed to maximize the exports and minimize the imports for an economy. It was an economic policy that gave rise to imperialism and colonialism among European nations.

Detailed explanation-4: -Mercantilism, also called “commercialism, ” is a system in which a country attempts to amass wealth through trade with other countries, exporting more than it imports and increasing stores of gold and precious metals. It is often considered an outdated system.