★ Must-know
📌 Mercantilist policy seeks an export surplus by subsidizing exports and protecting domestic producers through tariffs, quotas, or import bans.
Further detail
The main mercantilist branches are Spanish bullionism, French Colbertism, and English commercialism.
The mercantilist period is conventionally dated from 1500 to 1750.
Gold accumulation and state protection, rather than market self-regulation
1. How does mercantilism define national wealth?
2. Which policy best reflects the mercantilist goal of achieving an export surplus?
3. Why does physiocracy regard agriculture as the source of national wealth?
What defines national wealth in Mercantilism?
The quantity of gold and silver accumulated.
How does Mercantilism seek to increase national wealth?
Through state intervention in trade and production.
What does Mercantilist policy seek to achieve in trade balance?
An export surplus.
How does Mercantilist policy protect domestic producers?
By using tariffs, quotas, or import bans.
What does Physiocracy consider the source of national wealth?
Agricultural production.
Which author published the concept of Physiocracy in 1767?
Dupont de Nemours.
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