Pathways to Present Definition
Mercantilism: This theory held that a country should try to get and keep as much gold as possible. The more gold and silver the wealthier the country will be. If a country has no sources of gold and bullion it should trade.
A country should show more export than import this is the balance of trade.
The colonies should not be allowed to sell products to other nations or even engage in manufacturing.
The parent country should require its colonies to use its ships for transporting their raw materials.
England’s balance of trade would improve by providing raw materials such as tobacco, furs, and gold for England to sell to other countries and the colonies had to buy England manufacturing goods.
A country should show more export than import this is the balance of trade.
The colonies should not be allowed to sell products to other nations or even engage in manufacturing.
The parent country should require its colonies to use its ships for transporting their raw materials.
England’s balance of trade would improve by providing raw materials such as tobacco, furs, and gold for England to sell to other countries and the colonies had to buy England manufacturing goods.
Fact Finder Definition
Mercantilism, is an economic system that stresses the goals of the national government rather than the individual, developed in Europe as the feudal system (a social system based on strict class structures) declined at the end of the Middle Ages (c. 450–c. 1500). Mercantilism was the main economic system in Europe during the sixteenth, seventeenth, and eighteenth centuries. This system required the national government to strictly control businesses to meet certain objectives, such as exporting (selling) more goods to other countries than importing (buying) goods from other countries.
Wikipedia Definition
Mercantilism is an economic theory which says that the development or affluence of a country depends on its supply of capital. This capital is accumulated bullion which the state owns. To achieve or increase this bullion the state should induldge in protectionalist policies in order to increase their balance of trade. To do so the state should works in order to increase its exports and decrease its imports.
Yahoo answers definition
The main economic system used during the sixteenth to eighteenth centuries. The main goal
was to increase a nation's wealth by imposing government regulation concerning all of the nation's commercial interests. It was believed that national strength could be maximized by limiting imports via tariffs and maximizing exports.
Definition of the Declaration of Independence
The American colonists could be compared to tenants who were expected to 'pay rent', i.e., provide materials for export to Britain. Britain's goal was to have a greater number of exports than imports allowing them to store up wealth in the form of bullion. According to mercantilism, the wealth of the world was fixed. To increase wealth a country had two options: explore or make war.
