COLONIALISM AND IMPERIALISM
COLONIALISM AND ITS ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Its an economic theory
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It explains that countries are all competing with each other
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it says countries should be self-sufficient
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it says countries CAN export as much as they want
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it says countries CAN import as much as they want
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Detailed explanation-1: -The theory of Mercantilism argues that higher national income comes from exporting more than importing. That is, a country will increase its GDP if it has a trade surplus and it will decrease its GDP if it has a trade deficit. The Mercantilist line of reasoning goes like this.
Detailed explanation-2: -What is mercantilism? 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-3: -The main idea of Mercantilism is that a nation’s wealth and power were best served by increasing exports and so involved increasing trade. It was an economic principle. It was an economic policy followed by European colonial empires. Thus such policies frequently led to war and motivated colonial expansion.