In terms of mercantilism, what is protectionism?

a. a political policy that states that a nation should take over foreign ports by force if necessary to insure healthy trading relations

b. an economic policy in which a nation spends a great deal of money on its navy in order to defend it merchant ships

c. a trade policy that involves undercutting the prices of other an nation's goods at all costs

d. a trade policy the encourages exports while discouraging imports, mainly through tariffs

Question

Tristian Randolph

Social Studies

8 June, 13:43

In terms of mercantilism, what is protectionism?

a. a political policy that states that a nation should take over foreign ports by force if necessary to insure healthy trading relations

b. an economic policy in which a nation spends a great deal of money on its navy in order to defend it merchant ships

c. a trade policy that involves undercutting the prices of other an nation's goods at all costs

d. a trade policy the encourages exports while discouraging imports, mainly through tariffs

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Answers (1)

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Talan · Answer 1

The answer is letter d. a trade policy that encourages exports while discouraging imports, mainly through tariffs. Both systems stress the need to get the most advantage exporting more but limiting imports to get the most profits. Both systems also want to protect their own interests when it comes to the accumulation of wealth.