Mercantilism and International Trade Quiz

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10 Questions

According to the theory of Mercantilism, why should a nation aim to have more exports than imports?

In the context of Mercantilism, what is the primary purpose of colonies for a country?

How does Mercantilism suggest a nation can strengthen its economic position in international trade?

Which statement best describes the impact of having more exports than imports according to Mercantilism?

What is the main problem a country under Mercantilism would face if it consistently had more imports than exports?

What is the main difference between collectivism and individualism?

What is a defining characteristic of democracy?

Which type of totalitarianism is characterized by governance according to religious principles?

How do social democrats aim to achieve their socialist goals compared to communists?

What is a key feature of tribal totalitarianism?

Description

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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