Describe Mercantilism. A. Merchant-centered economy at the expense of farming B. Economic system where the so-called “Mother country” gathers raw materials from its colonies, makes products out of them, and then sells those products back to its colonies C. Economic system where the “Mother country” requires all foreign purchases made by its colonies to be first filtered through the Mother country’s ports and usually involves high tariffs or taxes on foreign purchases made by the colonies D. B and C E. A and B
Describe Mercantilism. A. Merchant-centered economy at the expense of farming B. Economic system where the so-called “Mother country” gathers raw materials from its colonies, makes products out of them, and then sells those products back to its colonies C. Economic system where the “Mother country” requires all foreign purchases made by its colonies to be first filtered through the Mother country’s ports and usually involves high tariffs or taxes on foreign purchases made by the colonies D. B and C E. A and B
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Question
Describe Mercantilism.
| A. |
Merchant-centered economy at the expense of farming |
|
| B. |
Economic system where the so-called “Mother country” gathers raw materials from its colonies, makes products out of them, and then sells those products back to its colonies |
|
| C. |
Economic system where the “Mother country” requires all foreign purchases made by its colonies to be first filtered through the Mother country’s ports and usually involves high tariffs or taxes on foreign purchases made by the colonies |
|
| D. |
B and C |
|
| E. |
A and B |
Expert Solution
Introduction
Mercantilism was an economic system of trade that spanned from the 16th century to the 18th century.
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