What did the Mercantilism economic policy emphasize?

Study for the GACE Middle Grades Social Science Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

The Mercantilism economic policy emphasized exporting more than importing because it operated on the belief that national strength could be maximized by limiting imports and maximizing exports. The idea was that a country's wealth and power were best served by increasing exports, which would bring in gold and silver, thus enriching the nation. This policy aimed to create a favorable balance of trade, where the value of what a country sold abroad exceeded the value of what it purchased, leading to accumulating wealth and further enhancing national power.

This focus on exports was rooted in the competitive nature of nations during the period of Mercantilism, where economic advantage was viewed as crucial to national survival and supremacy. While other economic policies or philosophies may advocate for free trade or reduced government involvement, Mercantilism is centrally focused on governmental regulation of the economy to achieve surplus exports and maximize economic benefits.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy