Mercantilism definition

1500s-1700s

*Prevailing economic philosophy of the 1600s that held colonies existed to serve the mother country

*Founded on the belief that the world's wealth was sharply limited and, therefore, one nation's gain was another nation's loss

*Each nation's goal was to export more than it imported in a favorable balance of trade; the difference would be made up in their possession of gold and silver, which would make the nation strong both economically and militarily

*Mercantilists believed economic activity should be regulated by the government

Explanation:

3.a

4.d

5.b

6.b

7.c

8.a

9.d

10.a