1. Mercantilism is an economic system that believes the country can be enriched by restraining imports and supporting exports. It became popular in the 16th century in Western Europe. The goal of Mercantilism is to have a trade balance that will bring gold and silver to the country and maintain domestic employment.
As a result, traders and producers such as the British East India Company became very wealthy and were protected by the state for its purposes and actions.
This is the prevailing economic mentality that guided the policies of many countries in the world in ancient times. It promotes the idea that the power of a nation depends on the quantity of gold and silver because at that time, the leadership and power of a leader depended on the quantity of gold and silver
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Answer:
1. Mercantilism is an economic system that believes the country can be enriched by restraining imports and supporting exports. It became popular in the 16th century in Western Europe. The goal of Mercantilism is to have a trade balance that will bring gold and silver to the country and maintain domestic employment.
As a result, traders and producers such as the British East India Company became very wealthy and were protected by the state for its purposes and actions.
This is the prevailing economic mentality that guided the policies of many countries in the world in ancient times. It promotes the idea that the power of a nation depends on the quantity of gold and silver because at that time, the leadership and power of a leader depended on the quantity of gold and silver
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