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Questions and Answers
What was the primary measure of a country's wealth during the mercantile period?
What was the primary measure of a country's wealth during the mercantile period?
- The number of colonies they possessed
- The size of their population
- The amount of gold and silver in their stock (correct)
- The value of their exports
Which of the following was NOT a principle of mercantilism?
Which of the following was NOT a principle of mercantilism?
- Exports should be encouraged while imports are restricted
- The amount of wealth in the world is finite
- A country's wealth is determined by its trade balance (correct)
- The state should play a dominant role in economic matters
According to the principles of mercantilism, why was a large population seen as beneficial?
According to the principles of mercantilism, why was a large population seen as beneficial?
- It provided a larger workforce for domestic production (correct)
- It increased the demand for imported goods
- It was seen as a source of national wealth in itself
- It allowed for the creation of larger armies
Which of the following statements best summarizes the mercantile system?
Which of the following statements best summarizes the mercantile system?
According to the principles of mercantilism, what was the role of the state in economic matters?
According to the principles of mercantilism, what was the role of the state in economic matters?
Why did mercantilists believe that exporting manufactured goods was beneficial?
Why did mercantilists believe that exporting manufactured goods was beneficial?
What was the main focus of mercantilists regarding trade surplus?
What was the main focus of mercantilists regarding trade surplus?
Why were importing raw materials considered advantageous according to mercantilism?
Why were importing raw materials considered advantageous according to mercantilism?
What was the motivation behind European countries establishing new colonies around the world according to mercantilism?
What was the motivation behind European countries establishing new colonies around the world according to mercantilism?
How did the discovery of the New World impact European countries based on mercantilist principles?
How did the discovery of the New World impact European countries based on mercantilist principles?
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