The Era of Mercantilism
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Questions and Answers

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

  • 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

  • Implement protectionist measures (correct)
  • Lower its production costs
  • Increase its population
  • Produce more goods domestically

    • A country following mercantilism aimed to

    <p>Sell more goods to other countries</p> Signup and view all the answers

    The reason why most European countries sought colonies under mercantilism was to

    <p>Gain access to valuable resources</p> Signup and view all the answers

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