Question

Which of the following is a feature of mercantilism

Answer 1

Mercantilism is defined as the policy by which a nation required to export more than its imported in order to build its supply. The features of mercantilism consist of Foreign trade which placed emphasis on a satisfactory balance of trade, Importance of money which considered money as the source of all powers and laid great emphasis on the gold and silver’s importance, Interest which formed a significant part of mercantilism however there was no unanimity among the various mercantilists concerning to its use and significance, Factor of production which well thought-out the land and the labor as the sole features of production, Large populations which emphasized the need of retaining large population for accumulative production and participation in the war, Lastly Commercial regulations which acknowledged the need of commercial regulation for the even working of the economy and advancement of social welfare.