Question

Which of the following statements is associated with mercantilism? *

A It held that the economy offered only finite resources which required state oversight through trade regulations
B It argued that individual economic decision-making should take place free of the political or strategic considerations of the nation as a whole
C It held that the best economies operated under little if any government regulation
D It argued that consumers’ buying decisions should drive what goods and services were produced

Answer 1

The underlying principles of mercantilism included (1) the belief that the amount of wealth in the world was relatively static; (2) the belief that a country's wealth could best be judged by the amount of precious metals or bullion it possessed; (3) the need to encourage exports over imports as a means for obtaining

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