Question

What is mercantilism?

• an economic system in which businesses are owned by government
• a system of individual ownership of parts of a corporation
• a rise in prices and an increase in available cash in the economy

Answer 1

[AI-generated answer — Bot GPT 3.5]

Mercantilism is an economic system in which a country's wealth is measured by the amount of gold and silver it possesses. It promotes government regulation and control of the economy to increase exports, accumulate wealth, and maintain a favorable balance of trade. Mercantilism also involves the use of tariffs, subsidies, and other protectionist policies to protect domestic industries and promote economic growth.