What is Mercantilism?

Mercantilism is an economic system that was popular in Europe from the 16th to the 18th centuries. It focused on increasing a country’s wealth by increasing its exports and limiting its imports. This was done in order to build up a large supply of precious metals in the country’s treasury. The idea was that this would make the country powerful and independent.

How Does Mercantilism Work?

Mercantilism works by a country trying to export more goods than it imports. This would lead to an increase in the supply of precious metals in the country’s treasury. To achieve this, the government would impose taxes on imports and give subsidies to exports. This would make imports expensive and exports cheaper, increasing the demand for the country’s goods.

What Are the Advantages of Mercantilism?

The main advantage of mercantilism is that it can help a country become powerful and independent. By limiting imports and increasing exports, a country can build up a large supply of precious metals in its treasury. This can be used to strengthen the country’s military and help it to become a major power in the world.

What Are the Disadvantages of Mercantilism?

The main disadvantage of mercantilism is that it can be detrimental to the economy of the country. By limiting imports and increasing exports, it can lead to a decrease in the availability of goods and services in the country. This can lead to higher prices and a decrease in the country’s standard of living.

Understanding Mercantilism With A Worksheet PDF

A worksheet PDF can help to understand the principles of mercantilism. It can provide an overview of the different aspects of mercantilism and how it works. It can also provide examples of how mercantilism has been used in different countries throughout history. A worksheet PDF can be a valuable tool for understanding this complex economic system.