What was the economic system prevailing in Europe in the 1500s and 1600s which favored a balanceof exports over imports with a focus of wealth measure by gold and silver?

Question

Isaiah

History

24 October, 03:35

What was the economic system prevailing in Europe in the 1500s and 1600s which favored a balanceof exports over imports with a focus of wealth measure by gold and silver?

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Answers (2)

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Ronnie Blevins · Answer 1

The economic system prevailing in Europe in the 1500s and 1600s that favored a balance of exports over imports, national wealth being measured by the amount of gold and silver possessed was the mercantilism.

Mercantilism refers to a national economic policy designed in order to maximize the exports of a nation. This economic system was dominant in modernized parts of Europe from the 16th to the 18th centuries.

Hunter Solomon · Answer 2

Mercantilism

Explanation:

Mercantilism is an economic system designed to maximize the exports of a nation and its share of wealth, measured in gold and silver. This was the dominant economic system in Europe from the 16th to the 18th century, before falling into decline with the rise of capitalism. The system promotes the regulation of a country's economy at the expense of other national powers. It also focuses on the accumulation of wealth through a positive balance of trade.