Traders in the seventeenth and eighteenth century were encouraged to focus on selling their nation's goods in the global market to create a favorable balance of trade. Nations attempted to sell more goods to other nations than they bought from other nations. This approach to global trading is called
A) ethnocentrism.
B) mercantilism.
C) protectionism.
D) isolationism.

Question

Traders in the seventeenth and eighteenth century were encouraged to focus on selling their nation's goods in the global market to create a favorable balance of trade. Nations attempted to sell more goods to other nations than they bought from other nations. This approach to global trading is called
A) ethnocentrism.
B) mercantilism.
C) protectionism.
D) isolationism.

Quizplus · Accepted Answer

The goal of mercantilism was to sell more to other nations than a country bought from other nations in order to bring about a favorable balance of trade.

Traders in the Seventeenth and Eighteenth Century Were Encouraged to Focus