asked 207k views
0 votes
Mercantilism asserts that countries should simultaneously encourage exports and discourage imports. True or False

asked
User Aprilia
by
8.2k points

1 Answer

7 votes

Answer:

True.

Step-by-step explanation:

The broader explanation is more is that nations actively try to increase current account surplus i.e. export more than you import, whilst at the same time reducing current account deficits i.e. having imported more than exported within a financial trading year.

The main tool of the phenomenon included the use of high tariffs on imported manufactured goods. This discourages local companies from having to look to other manufacturing countries for cheap manufactured products, and look to buy from manufacturers within.

answered
User Sinsuren
by
9.1k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.