Traders in the seventeenth and eighteenth century were encouraged to focus on selling their nation's goods in the global market to create a favorable balance of trade. Nations attempted to sell more goods to other nations than they bought from other nations. This approach to global trading is called

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Monserrat Vasquez

Business

8 September, 22:55

Traders in the seventeenth and eighteenth century were encouraged to focus on selling their nation's goods in the global market to create a favorable balance of trade. Nations attempted to sell more goods to other nations than they bought from other nations. This approach to global trading is called

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Answers (1)

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Houston Shelton · Answer 1

The correct answer is letter "B": mercantilism.

Explanation:

In the 16th to 18th centuries, mercantilism was the dominant economic theory. To limit imports and increase exports, governments controlled their economies. It was believed that by doing this, the wealth of the nation would increase due to the surplus in the balance of trade in the country.