______________ was an 18^th century belief that a nation should try to sell more goods to other nations than it buys from them.

Question

Quizplus · Accepted Answer

Mercantilism was the belief in the 18th century that a nation's wealth and power were based on its ability to export more goods than it imported. Governments would encourage exports and restrict imports through tariffs and other means to maintain a favorable balance of trade. Capitalism is an economic system characterized by private ownership of the means of production and a market-based approach to distribution and pricing of goods and services. Comparative advantage is the ability for a country to produce goods or services at a lower opportunity cost than other countries. Inflation refers to the rate at which the general level of prices for goods and services is rising, and subsequently purchasing power is falling.

______________ Was an 18th Century Belief That a Nation Should

______________ Was an 18^th Century Belief That a Nation Should