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Mercantilism

Definition

Mercantilism is an economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances, which a government should encourage by means of protectionism.

Related terms

Protectionism: The theory or practice of shielding a country's domestic industries from foreign competition by taxing imports.

Balance of Trade: The difference in value between a country's imports and exports over a certain period.

Economic Nationalism: Policies and beliefs designed to protect and stimulate a nation’s economy, often involving protectionist measures.

"Mercantilism" appears in:

Subjects (5)

  • AP Human Geography

  • AP US History

  • AP World History: Modern

  • Intro to Political Science

  • Intro to Sociology

Study guides (5)

  • AP European History - 1.8 Columbian Exchange

  • AP European History - 3.4 Economic Development and Mercantilism

  • AP European History - 3.8 Comparison in the Age of Absolutism and Constitutionalism

  • AP European History - 4.7 Causation in the Age of the Scientific Revolution

  • AP European History - 5.2 The Rise of Global Markets

Practice Questions (20+)

  • Which of the following best describes the economic system of mercantilism?

  • What role did mercantilism developed during Italian Renaissance play in shaping economic policies of early modern European states?

  • How did mercantilism influence colonization efforts by various European nations?

  • What might have been a probable outcome if Spain had not pursued an aggressive policy of mercantilism in the 16th and 17th centuries?

  • How did the economic system of Mercantilism tie into Europe's exploitation of resources during Columbian Exchange?

  • From a Marxist perspective, how did the development of mercantilism during the 16th and 17th centuries deepen class divisions in European societies?

  • How did mercantilism shape economic practices in Europe during the Age of Exploration?

  • Who initiated a policy of mercantilism for France in the late 17th century?

  • What was a significant effect of mercantilism on Europe's economy between 1648-1815?

  • What impact did Commercial Revolution have on mercantilism during this period?

  • Which of the following best defines mercantilism as it was practiced in 17th century Europe?

  • Who is considered as the main theorist behind mercantilism?

  • Who is associated with the theory of laissez-faire economics which directly challenged the concept of mercantilism?

  • Which English monarch is recognized for implementing policies that promoted mercantilism?

  • Which French finance minister is most associated with the system of mercantilism?

  • What was the primary goal of mercantilism during the Age of Exploration?

  • What was an effect of mercantilism on mother countries during the Age of Exploration?

  • Which country's navigation acts can be seen as an example of mercantilism?

  • Which group would have been most opposed to the principles of mercantilism during the early modern era?

  • Which economic system succeeded mercantilism in the late 18th century?

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About Us

About Fiveable

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Privacy Policy

CCPA Privacy Policy

Resources

Cram Mode

AP Score Calculators

Study Guides

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Glossary

Cram Events

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Crisis Text Line

Help Center

© 2024 Fiveable Inc. All rights reserved.

AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.