What was the principle of mercantilism quizlet?

The basic principle of mercantilism was that a nation’s strength depended on its wealth. Mercantilists believed that a nation could build wealth in two ways.

Which of the following is the main principle of mercantilism?

Which of the following is the main principle of mercantilism? It is in a country’s best interests to maintain a trade surplus.

What best describes the concept of mercantilism?

What is mercantilism? Mercantilism is an economic practice by which governments used their economies to augment state power at the expense of other countries. Governments sought to ensure that exports exceeded imports and to accumulate wealth in the form of bullion (mostly gold and silver).

What is mercantilism in the colonies quizlet?

Mercantilism. Mercantilism was an economic system used in the 1600s and 1700s by European countries. Under mercantilism, a country tried to control its imports and exports to create wealth. According to the theory of mercantilism, if a country exported more than it imported, it got wealthier. Navigation Acts.

What is mercantilism Quizizz?

What is mercantilism? A system where a mother countries gains money and power from natural resources that come from its colonies.

Which of the following is a characteristic of mercantilism?

The balance of trade was a key component of mercantilism – imports were bad, and exports were good. Mercantilism focused on controlling gold in order for colonists to pay for its large armies and expand its empire. At the core of mercantilist belief was that one nation could only benefit at another nations expense.

What is are the two principles of mercantilism?

The underlying principles of mercantilism included (1) the belief that the amount of wealth in the world was relatively static; (2) the belief that a country’s wealth could best be judged by the amount of precious metals or bullion it possessed; (3) the need to encourage exports over imports as a means for obtaining a …

Which of the following is an example of mercantilism?

A mercantilistic example includes the Sugar Act of 1764 that made colonists pay higher tariffs and duties on imports of foreign-made refined sugar products.

What is mercantilism What role did colonies play in this policy quizlet?

What role did colonies play in mercantilism? Colonies supplied raw materials and markets for the mother country’s products.

Which of the following was the purpose of mercantilism?

Mercantilism is an economic policy that is designed to maximize the exports and minimize the imports for an economy. It promotes imperialism, colonialism, tariffs and subsidies on traded goods to achieve that goal.