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, 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 It is often considered an outdated system.

Detailed explanation-3: -Mercantilism is economic nationalism for the purpose of building a wealthy and powerful state. Adam Smith coined the term “mercantile system” to describe the system of political economy that sought to enrich the country by restraining imports and encouraging exports.

Detailed explanation-4: -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-5: -Mercantilism is an economic theory that advocates government regulation of international trade to generate wealth and strengthen national power. Merchants and the government work together to reduce the trade deficit and create a trade surplus.