Mercantilism Economic system aimed at self-reliance and strengthening the national economy by accumulating bullion, gaining colonies, and establishing a favorable balance of trade Merchant
Example: The idea of mercantilism helped drive laws in the colonies that would establish England as their only trading partner, to allow England to sell the goods and stabilize their economy. Historical Significance: Mercantilist thought and laws made the colonies believe they needed independence from England to properly trade and prosper.
Mercantilism is a system based on the benefits of profitable trading. Countries made trade policies that favored money going from the colonies to the mother country.
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7-1.3 Summarize the policy of Mercantilism as a way of building a Nation's wealth, including government policies to control trade
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Mercantilism, or mercantile system, is a political economic system whereby countries restrict imports and encourage exports. The rationale is to balance foreign trade in such a way that would increase revenue without negatively impacting domestic employment.
Mercantilism, also called "commercialism,” is a system in which a country attempts to amass wealth through trade with other countries, exporting more than it imports and increasing stores of gold and precious metals. It is often considered an outdated system.