Question

Which statement BEST describes an important underlying belief of mercantilism? A There is a limited amount of wealth in the world. B People work and produce mainly for selfish reasons. C Self-determination is the right of all people. D Competition leads to efficiency.

Answer 1

Answer:

D. Competition leads to efficiency.

Explanation:

Mercantilism was a set of practices that aimed to strengthen the wealth of European states, by establishing a strong trade and expanding the economy resulting in the promotion of the enrichment of the bourgeoisie that could pay more taxes.

During this period of time, sea expeditions were heavily influenced to find new markets for local trade, the sense of economic competition between countries also began, which promoted a better quality of products to be stipulated. In this way, it was believed that competition was driving the efficiency of production processes.