6 Questions
Mercantilists believed in limiting imports and focusing on exporting to strengthen the economy.
True
Mercantilists were mainly concerned about achieving a trade surplus.
False
According to mercantilism, exporting raw materials and importing manufactured goods were considered beneficial.
False
European countries explored new lands to find new resources for import, as their domestic sources were not sufficient.
True
The discovery of the New World created new opportunities for European countries to expand their business through foreign trade.
True
Establishing new colonies was not a strategy used by European countries to increase their foreign trades under mercantilism.
False
Learn about the mercantilist idea of promoting exports while limiting imports to strengthen industries and the economy. Explore how balance of trade surplus was not the main focus and the importance placed on the value of exported commodities. Understand the views on exporting manufactured goods versus importing them, as well as the strategy regarding raw materials.
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