Question

Mercantalism is the basic economic and political theory by which 17th and 18th century European powers governed their overseas colonies. the basic premise being that an empire had to export more than it imported thus having a____________.

Answer 1

Answer:

surplus in the trade balance

Explanation:

Mercantilism not only stated that there should be a greater export of goods than imports, these goods had to have an additional added value. The import of raw material such as wood, minerals and agricultural products was of great importance with the idea that artisans through specialized work added value to these goods and exported with the objective of generating wealth for the state.

It is important to highlight that mercantilism dictated that precious metals such as gold should not be exported, with the aim of strengthening the state and having a strong fiscal policy.