Traders in the 18th 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

Quizplus · Accepted Answer

The approach to global trading described in the question is called mercantilism, which was popular in the 18th century. Mercantilism focused on accumulating wealth through a favorable balance of trade, with nations selling more goods to other nations than they bought from them.

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