Question

According to the theory of- which became popular among european nations in the 15th and 16th centuries, a nation could increase its wealth and power in two ways: by obtaining as much gold and silver as possible, and by establishing a favorable balance of trade, in which it sold more goods than it bought.

Answer 1

The correct answer is Mercantilism

Mercantilism was based on the idea that the wealth of the world is static and in order for a country to be considered wealth it had to possess large amounts of silver, gold and other precious metals