Which accurately describes the role of mercantilism in the role of trade for European countries during the 16th century?
european nations aimed to decrease how much merchants were taxed, believe this would increase trade and the nation's wealth
european nations aimed to maximized the purchase of imports while minimizing the sale of exports
european nations aimed to loosen trade restrictions on merchants, believe this would increase trade and the nation's wealth
european nations aimed to maximized the sale of exports while minimizing the purchase of imports
d?
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The correct answer is d. European nations aimed to maximize the sale of exports while minimizing the purchase of imports.
To arrive at this answer, you can analyze the concept of mercantilism and its impact on European trade during the 16th century.
Mercantilism was an economic theory prevalent during this time that emphasized national wealth as a measure of power and considered trade as a zero-sum game. According to this theory, nations believed that increasing exports and reducing imports would lead to a favorable balance of trade and accumulation of wealth.
By maximizing the sale of exports, European countries aimed to generate revenue from international trade. This approach would enable them to accumulate precious metals, such as gold and silver, which were considered valuable at the time.
On the other hand, by minimizing the purchase of imports, European countries intended to protect their domestic industries and prevent the outflow of wealth from their economies. This allowed them to maintain a favorable trade balance and avoid dependence on foreign goods.
Overall, the primary goal of mercantilism in the 16th century was to maximize the sale of exports and minimize the purchase of imports, making option d the accurate description of the role of mercantilism in European trade during this period.