10 Questions
According to the theory of Mercantilism, why should a nation aim to have more exports than imports?
To increase the profit made from international trade.
In the context of Mercantilism, what is the primary purpose of colonies for a country?
To generate wealth that flows back to the mother country.
How does Mercantilism suggest a nation can strengthen its economic position in international trade?
By tightly controlling its trade activities and resources.
Which statement best describes the impact of having more exports than imports according to Mercantilism?
It leads to an accumulation of wealth for the nation.
What is the main problem a country under Mercantilism would face if it consistently had more imports than exports?
A reduction in available funds for domestic investment.
What is the main difference between collectivism and individualism?
Collectivism stresses collective goals over individual goals, while individualism emphasizes individual freedoms.
What is a defining characteristic of democracy?
Government by the people, exercised either directly or through elected representatives
Which type of totalitarianism is characterized by governance according to religious principles?
Theocratic totalitarianism
How do social democrats aim to achieve their socialist goals compared to communists?
By working towards the same goals through democratic means
What is a key feature of tribal totalitarianism?
Monopolization of power by a party representing a particular tribe
Test your knowledge on mercantilism, a policy pursued by countries like England around 1650 to strengthen their economy through strict control over trade. Learn about the concept, importance of colonies, and the balance between imports and exports.
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