Question

What is the best definition for mercantilism

Answer 1

Howdy,

Mercantilism is an economic practice by which governments used their economies to augment state power at the expense of other countries.

Example: the Sugar Act of 1764 that made colonists pay higher tariffs and duties on imports of foreign-made refined sugar products.

Answer 2

Mercantilism is an economic practice by which governments used their economies to augment state power at the expense of other countries. Governments sought to ensure that exports exceeded imports and to accumulate wealth in the form of bullion.

Step-by-step explanation:

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