WORLD 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 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-3: -Mercantilism as economic theory, is a system of trade that advocates a nation to engage in massive export to accumulate bullions (gold and silver) as wealth and to minimize import to ensure economic growth and favorable balance of trade in the international market.

Detailed explanation-4: -March 2019) (Learn how and when to remove this template message) Neomercantilism (also spelt as neo-mercantilism) is a policy regime that encourages exports, discourages imports, controls capital movement, and centralizes currency decisions in the hands of a central government.

Detailed explanation-5: -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.