Question

Mercantilists (economic nationalists) believe:"

a. Countries should prioritize accumulating wealth through trade surpluses.
b. Trade deficits are beneficial for economic growth.
c. Countries should avoid international trade altogether.
d. Economic growth should be based solely on domestic production.

Answer 1

Mercantilists, or economic nationalists, believe that countries should prioritize accumulating wealth through trade surpluses by exporting more than they import.

Step-by-step explanation:

The subject of this question is Social Studies.

Mercantilists, also known as economic nationalists, believe that countries should prioritize accumulating wealth through trade surpluses. This means that they aim to export more goods than they import in order to accumulate wealth in the form of precious metals such as gold and silver.

For example, mercantilist countries like England, France, and the Netherlands established colonies in the Americas to extract valuable resources and provide markets for their domestically manufactured goods. These countries imposed tariffs, granted monopolies, and subsidized industries to promote domestic production and maximize their wealth.