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Question
Europe in the 16th and 17th centuries strengthened trade relations using an economic concept called
Europe in the 16th and 17th centuries strengthened trade relations using an economic concept called
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Solution
The correct option is C Mercantilism
According to the concept of mercantilism, a country can become powerful in two ways. One, the country has to accumulate the largest share of wealth in the form of gold and silver. Two, a country can also develop its wealth by exporting more and importing less. Self-sufficiency is the ultimate aim of mercantilism.
According to the concept of mercantilism, a country can become powerful in two ways. One, the country has to accumulate the largest share of wealth in the form of gold and silver. Two, a country can also develop its wealth by exporting more and importing less. Self-sufficiency is the ultimate aim of mercantilism.
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