WORLD HISTORY

Detailed explanation-1: -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 It is often considered an outdated system.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-2: -Mercantilism arose in France in the early 16th century soon after the monarchy had become the dominant force in French politics.

Detailed explanation-3: -Definition: Mercantilism is an economic theory where the government seeks to regulate the economy and trade in order to promote domestic industry – often at the expense of other countries. Mercantilism is associated with policies which restrict imports, increase stocks of gold and protect domestic industries.

Detailed explanation-4: -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.