Answer:
This economic system resulted in a favorable balance of trade for England, with greater exports than imports.
Explanation:
The goal of the economic philosophy and system of mercantlism was to generate a positive balance of trade for the mother country, at the expense of the colonies.
In the case of England, the idea was to enrich England at the expense of colonies such as the North American colonies.
The system was succesful in this particular economic area, but it did not necessarily benefit the majority of people in both England and the colonies.
It was during the William Taft's<span> presidency that Congress passed the 16th Amendment to levy an income tax on the American people, and the 17th amendment, which allowed election of United States senators by popular vote.</span>
They produce goods that others would buy. Or you provide services that others would consume and pay you.
