Mercantilism in European Trade History

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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?

It emphasized the accumulation of wealth through trade surpluses Signup and view all the answers

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

To play a dominant role in guiding economic activities Signup and view all the answers

Why did mercantilists believe that exporting manufactured goods was beneficial?

To strengthen the economy Signup and view all the answers

What was the main focus of mercantilists regarding trade surplus?

Increasing the value of exported commodities Signup and view all the answers

Why were importing raw materials considered advantageous according to mercantilism?

To strengthen the economy Signup and view all the answers

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

To increase foreign trades for more gold reserves Signup and view all the answers

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

It provided new markets and resources for exploration Signup and view all the answers

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?

Which of the following was NOT a principle of mercantilism?

According to the principles of mercantilism, why was a large population seen as beneficial?

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?

Why did mercantilists believe that exporting manufactured goods was beneficial?

What was the main focus of mercantilists regarding trade surplus?

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?

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

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