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what is merchantilism?

Mercantilism is an economic policy of the government wherein the government controls the foreign trade and the Company that is involved in foreign trade and protects its interests in foreign countries in a way it would protect its own dominions. Protection of foreign trade was considered by these countries to ensure military dominance. Most European powers followed this policy of mercantilism in the 17th and 18th century. The East India Company was a mercantile company and it removed competition from other European powers by defeating them in various battles in India and Europe.

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Mercantilismis theeconomicdoctrine that government control offoreign tradeis of paramount importance for ensuring the military security of the country.

or

  • The theory and system of political economy prevailing in Europe after the decline of feudalism, based on national policies of accumulating bullion, establishing colonies and a merchant marine, and developing industry and mining to attain a favorable balance of trade.
  • The practice, methods, or spirit of merchants; commercialism.

hope i am correct.

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Mercantilismis theeconomicdoctrine that government control offoreign tradeis of paramount importance for ensuring the military security of the country.

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Mercantilism is the economic doctrine that government control of foreign trade is of paramount importance for ensuring the military security of the country. In particular, it demands a positive balance of trade. Mercantilism dominated Western European economic policy and discourse from the 16th to late-18th centuries. Mercantilism was a cause of frequent European wars in that time and motivated colonial expansion. Mercantilist theory varied in sophistication from one writer to another and evolved over time. Favours for powerful interests were often defended with mercantilist reasoning.

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Mercantilism is the economic doctrine that government control of foreign trade is of paramount importance for ensuring the military security of the country. In particular, it demands a positive balance of trade. Mercantilism dominated Western European economic policy and discourse from the 16th to late-18th centuries. Mercantilism was a cause of frequent European wars in that time and motivated colonial expansion. Mercantilist theory varied in sophistication from one writer to another and evolved over time. Favours for powerful interests were often defended with mercantilist reasoning.

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