Mercantilism is supports the notion that there is limited wealth in the world, nations had to acquire wealth to be powerful.
Mercantilism is an economic policy that is structured to maximize the exportation and minimize the importation for an economy. It is of the believe that importing goods is bad as it transfers gold and wealth to other nations.
Mercantilism promotes imperialism and colonialism. It makes use of tariffs to achieve its aim. High tariffs are placed on imported goods to discourage importation and little tariffs are placed on exported goods to encourage it.
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