Theory of mercantilism
Explain what was the theory of mercantilism?
Expert
Mercantilism was the economic philosophy underlying English colonial policy. The objective of mercantilism was to increase the wealth of the Mother County (Great Britain) in silver and gold. To accomplish that goal, a satisfactory balance of trade was desired. Which means that a nation would sell more than it would purchase, thus making extra in the capital. The philosophy name points out the importance of merchants in this policy. Merchants would sell the products to foreign countries and purchased items to be sold within the country. Gatherings played a vital role in mercantilism. A colony would provide the required raw materials to the industries of England and the colonists would be a source of income to the nation because they would buy the finished products and supplies they desired to grow, from the Mother Country. The ideal was to become self-sufficient. The nation would give everything to its people according to its need and buy nothing from foreign countries. As the ideal could not be accomplished in the real world of economics, the purpose of mercantilism was to reduce imports that cost money and maximize exports and the trade that brought money in the nation.
Can someone help me in finding out the most precise answer from the given options. The error of commission would be: (1) Student forgets to study for the test. (2) The decision not to make a product which another company later generates successfully. (3) The company s
The economy consists of two consumers, A and B. Both consumers are endowed with one unit of good 1 and one unit of good 2. Consumer A is entirely indifferent between all consumption plans. Consumer B has the utility function u(xB1 ; xB
Decreased airline bookings subsequent to some major airline crashes would point out a: (i) Reduction in the amount of airline travel demanded. (ii) Drop in the demand for air travel. (iii) Phobia among air travelers which is irrational. (iv) Horizontal demand curve fo
Monopolistic competition is NOT described by: (1) P = MSC. (2) large numbers of sellers. (3) P = LRATC. (4) MR = MC. (5) differentiated products. Hey friends please give your opinion for the problem of Econ
Total variable costs can be estimate as: (1) 0bcq1. (2) 0adq2. (3) 0Peq2. (4) aPed. (5) Cannot be measured within demonstrated figure. Q : Ownership shares in corporation I have I have a problem in economics on Ownership shares in corporation. Please help me in the following question. The Ownership shares in a corporation are termed as: (1) Bonds. (2) Entrepreneurial capital. (3) Common stock. (4) Total worth. (5) Retained equity.
I have a problem in economics on Ownership shares in corporation. Please help me in the following question. The Ownership shares in a corporation are termed as: (1) Bonds. (2) Entrepreneurial capital. (3) Common stock. (4) Total worth. (5) Retained equity.
Economists decompose how the consumers react to a change in price of a good into the: (1) Diminishing marginal utility effect and indifference effect. (2) Indifference effect and enhancement effect. (3) Net utility effect and preference effect. (4) Income effect and s
Select the right ans wer of the question. Critics of minimum-wage legislation argue that it: A) keeps inefficient producers in business. B) reduces employment.C) undermines incentives to work. D) is deflationary.
Moving by point a to point b to point c to point d to pint e beside demand curve D, then absolute value of the price elasticity of demand for DVDs video games is: (w) greater at lower prices than at higher prices. (x) constant and equal to minus one.
After the morula phase what is the subsequent stage? What is the morphological attribute which defines this phase?
18,76,764
1938310 Asked
3,689
Active Tutors
1457749
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!