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According to the economic theory of mercantilism, countries sought colonies in order to
According to the economic theory of mercantilism, countries sought colonies in order to
- Spread their political influence
- Promote cultural exchange
- Increase their wealth and power (correct)
- Expand their military capabilities
A country that followed the principles of mercantilism needed to have a favorable balance of trade, which meant
A country that followed the principles of mercantilism needed to have a favorable balance of trade, which meant
- Exporting more goods than they imported (correct)
- Trading equally with other countries
- Importing more goods than they exported
- Not engaging in international trade
In order to achieve a favorable balance of trade, a country needed to
In order to achieve a favorable balance of trade, a country needed to
- Implement protectionist measures (correct)
- Lower its production costs
- Increase its population
- Produce more goods domestically
A country following mercantilism aimed to
A country following mercantilism aimed to
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The reason why most European countries sought colonies under mercantilism was to
The reason why most European countries sought colonies under mercantilism was to
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