What was mercantilism?
A) An economic theory carefully elaborated by Adam Smith in The Wealth of Nations
B) The theory that a nation's power was measured in its wealth; to maximize wealth, a country would need to export more than it imported
C) A colonial American policy of trading primarily with England in order to strengthen political and economic ties
D) A theory of business organization in which merchants formed joint stock companies to pool their capital
E) The belief that the most effective way to escape from the Long Depression was to increase imports of agricultural goods

Question

Quizplus · Accepted Answer

Mercantilism is an economic theory that suggests a nation's power is directly linked to its wealth, advocating for a positive balance of trade where a country exports more than it imports to accumulate precious metals and increase national wealth.

What Was Mercantilism