Which of the following best describes mercantilism?(1 point)

Question

Responses

an idea that everyone can have as much wealth as they want in the world as long as they create colonies and control them, so that they have all the resources
an idea that everyone can have as much wealth as they want in the world as long as they create colonies and control them, so that they have all the resources

a system that made it easier for traders to make money in any country because they understood what people wanted to buy and sell and could make the country rich
a system that made it easier for traders to make money in any country because they understood what people wanted to buy and sell and could make the country rich

an economic system based on the idea that the world only has so much wealth available, and countries must take as much as they can so that other countries do not get it
an economic system based on the idea that the world only has so much wealth available, and countries must take as much as they can so that other countries do not get it

a system that eliminated all competition between countries and instead caused them to make peaceful agreements so that everyone could make money
a system that eliminated all competition between countries and instead caused them to make peaceful agreements so that everyone could make money

Answer 1

The best description of mercantilism is:

an economic system based on the idea that the world only has so much wealth available, and countries must take as much as they can so that other countries do not get it.

Mercantilism focuses on the belief that there is a limited amount of wealth in the world, which leads nations to compete for resources and trade advantages to maximize their own wealth at the expense of others.