Difference between revisions of "Mercantilism"
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| − | Mercantilism was a policy for a nation to increase its wealth based on exporting more goods to other nations and territories than importing from them. An excess of exports over imports increased the balance of trade and the acquisition of gold by the nation. Also, acquiring and using colonies to supply raw materials and | + | Mercantilism was a policy for a nation to increase its wealth based on exporting more goods to other nations and territories than importing from them. An excess of exports over imports increased the balance of trade and the acquisition of gold by the nation. Also, acquiring and using colonies to supply raw materials and provide foreign markets was a key aspect of mercantilism. |
Revision as of 14:50, January 12, 2007
Mercantilism was a policy for a nation to increase its wealth based on exporting more goods to other nations and territories than importing from them. An excess of exports over imports increased the balance of trade and the acquisition of gold by the nation. Also, acquiring and using colonies to supply raw materials and provide foreign markets was a key aspect of mercantilism.