Mercantilism aimed to strengthen nations by maximizing wealth and trade, with examples from the British Empire showcasing its implementation.
Mercantilism was a set of economic ideas that aimed to strengthen a nation by increasing its wealth, population, and shipping capabilities. Governments implemented policies to acquire bullion, maintain a positive balance of trade, and achieve economic self-sufficiency. An example of mercantilism can be seen in the British Empire, which discouraged colonies from importing foreign products to promote British goods and imposed tariffs to maintain a favorable trade balance.
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