Traders in the 18^th 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:

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The approach described is mercantilism, which was a common economic theory in the 18th century. It involved countries focusing on exporting as much as possible to other countries while minimizing imports in order to maintain a favorable balance of trade and accumulate wealth.

Traders in the 18th Century Were Encouraged to Focus on Selling

Traders in the 18^th Century Were Encouraged to Focus on Selling