Question

Please help! What was the economic philosophy of mercantilism? 20 pts!!!

Answer 1

Answer:

Mercantilism Mercantilism was a sixteenth-century economic philosophy that maintained that a countrys wealth was measured by its holdings of gold and silver (Mahoney, Trigg, Griffin, & Pustay, 1998). This recquired the countries to maximise the difference between its exports and imports by promoting exports and discouraging imports. The logic was transparent to sixteenth-century policy makers-if foreigners buy more goods from you than you buy from them, then the foreigners have to pay you the difference in gold and silver, enabling you to amass more treasure.

Answer 2

Answer:

Colonies exist to enrich the home country and therefore shouldn’t be allowed to trade with anyone except the home country.

Explanation:

Many Western European countries believed that their colonies should not trade with any other countries.

Hope my answer helps!