What are 5 characteristics of mercantilism?

The five characteristics of mercantilism are as follows:

  1. Accumulation of wealth and power
  2. Belief about wealth being static. It was the core belief of mercantilism
  3. Establishing monopolies on certain items of trade
  4. Trade barriers
  5. Positive balance of trade.

Mercantilism is an economic policy that is designed to maximize the exports and minimize the imports for an economy.

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