Mercantilism in European Trade History

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10 Questions

What was the primary measure of a country's wealth during the mercantile period?

The amount of gold and silver in their stock

Which of the following was NOT a principle of mercantilism?

A country's wealth is determined by its trade balance

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

It provided a larger workforce for domestic production

Which of the following statements best summarizes the mercantile system?

It emphasized the accumulation of wealth through trade surpluses

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

Why did mercantilists believe that exporting manufactured goods was beneficial?

To strengthen the economy

What was the main focus of mercantilists regarding trade surplus?

Increasing the value of exported commodities

Why were importing raw materials considered advantageous according to mercantilism?

To strengthen the economy

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

To increase foreign trades for more gold reserves

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

It provided new markets and resources for exploration

Explore the economic system of mercantilism which dominated European trade from the 16th to 18th century. Learn about the emphasis on trade surplus, accumulation of precious metals, and the regulations imposed to boost national wealth and power.

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