Mercantilism is an economic system that was commonly practiced in Europe during the 16th to 18th centuries. It is based on the idea that a country's wealth and power are determined by its accumulation of precious metals, such as gold and silver, through trade and colonization. Mercantilist policies often included government regulations and subsidies to promote exports and restrict imports in order to maintain a favorable balance of trade. The goal of mercantilism was to increase a nation's wealth and strengthen its economy by maximizing exports and minimizing imports.
Mercantilism is an economic theory and policy that was dominant in Europe from the 16th to the 18th century. It is characterized by a nation's strong focus on exporting goods while limiting imports, with the goal of increasing national wealth and power. The main principles of mercantilism include accumulating precious metals, maintaining a favorable balance of trade, implementing protectionist policies such as tariffs and subsidies, and establishing colonies for resource extraction. Overall, mercantilism promotes the idea that a country's economic strength depends on the accumulation of wealth through its advantageous position in international trade.
