Final answer:
Mercantilism is an economic theory in which nations believed that the world's wealth, measured in gold and silver, is limited. It focused on promoting exports and accumulating precious metals to increase a nation's wealth.
Step-by-step explanation:
Mercantilism is an economic theory in which nations believed that the world's wealth, measured in gold and silver, is limited. According to this theory, if one nation gains wealth, it is at the expense of another. Mercantilist nations expected their colonies to export raw materials and precious metals back to the home country, while purchasing goods from the home country in return. The goal of mercantilism was to strengthen a nation by accumulating gold and silver and maintaining a favorable trade balance.