What are the basic principles of mercantilism?
Answer / Pramod Kumar Gautam
Mercantilism was an economic theory popular in Europe during the 16th to 18th centuries. Its key principles include: (1) accumulation of wealth, particularly gold and silver, to ensure national power and security; (2) promotion of exports over imports to create a trade surplus; (3) state control of trade and colonies to protect domestic industries; (4) use of protective tariffs, subsidies, and monopolies to support domestic industries.
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