AP Biology
American Revolution
Mercantilism - Mercantilism is the idea that if countries wanted wealth and
power, they need gold and silver. It also stated that a country should gain
colonies to gain a favorable balance of trade. Mercantilism dominated Europe
and the colonies. This was the European economic system. The idea was
to become self-sufficient (which meant not to need to import the necessities.
Favorable balance of trade - Export more than you import.
Trade deficit …
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