Mercantilism in European Trade History
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Mercantilism in European Trade History

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Questions and Answers

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?

  • 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?

  • 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?

    <p>It emphasized the accumulation of wealth through trade surpluses</p> Signup and view all the answers

    According to the principles of mercantilism, what was the role of the state in economic matters?

    <p>To play a dominant role in guiding economic activities</p> Signup and view all the answers

    Why did mercantilists believe that exporting manufactured goods was beneficial?

    <p>To strengthen the economy</p> Signup and view all the answers

    What was the main focus of mercantilists regarding trade surplus?

    <p>Increasing the value of exported commodities</p> Signup and view all the answers

    Why were importing raw materials considered advantageous according to mercantilism?

    <p>To strengthen the economy</p> Signup and view all the answers

    What was the motivation behind European countries establishing new colonies around the world according to mercantilism?

    <p>To increase foreign trades for more gold reserves</p> Signup and view all the answers

    How did the discovery of the New World impact European countries based on mercantilist principles?

    <p>It provided new markets and resources for exploration</p> Signup and view all the answers

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