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saul85 [17]
4 years ago
5

. Use the words import, export, and mercantilism in a paragraph about the colonies.

History
2 answers:
AlexFokin [52]4 years ago
7 0
During the 17th and 18th centuries Europeans believed in an idea called mercantilism, the idea that a nation's existence depended on power, and power depended on wealth. To gain wealth a country had to have colonies. These to provided a constant source of raw materials and become markets for the manufactured goods to the country that owned them or their "Mother Country." M<span>ercantilism revolves around trade. Exports are goods sent for sale outside a colony or country. Imports are goods brought into a colony or country. Exported goods </span>earn<span> money. Imported goods </span>cost<span> money. Great Britain followed the most cost effective trade routes to increase profits. </span>
Ne4ueva [31]4 years ago
5 0
<span>The concept of mercantilism is maximizing net exports, making it a tool for national prosperity. Relevant to this is the idea that the only accepted measure of a country’s wealth and success was the amount of gold that it had. If a country had more gold than another, it was probably better off. In the contrary, this idea had important consequences for economic policy. Thus, the best way of securing a country’s prosperity was to make few imports and many exports, thus generating a net inflow of foreign exchange and maximizing the country’s gold stocks.</span>
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