5 Questions
According to mercantilism, what was considered the mainstay of national wealth and essential to vigorous commerce?
Gold and silver
According to mercantilism, how could a country increase its national wealth, prestige, and power?
By maintaining a trade surplus
What was the main tenet of mercantilism?
To maintain a trade surplus
According to Thomas Mun, what was the ordinary means to increase wealth and treasure?
Foreign trade
What would happen if a country imported goods from other countries according to mercantilism?
There would be an outflow of gold and silver
Test your knowledge on the first theory of international trade, mercantilism, and its assertion that gold and silver were crucial for national wealth and commerce. Explore the historical context and understand the role of currency in trade between countries.
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