Question
15. Which statement BEST describes the theory of mercantilism?(1 point)
Responses
People work mainly for selfish reasons.
People work mainly for selfish reasons.
Competition leads to efficiency.
Competition leads to efficiency.
Self-determination is the right of all people
Self-determination is the right of all people
There is a limited amount of wealth in the world.
Responses
People work mainly for selfish reasons.
People work mainly for selfish reasons.
Competition leads to efficiency.
Competition leads to efficiency.
Self-determination is the right of all people
Self-determination is the right of all people
There is a limited amount of wealth in the world.
Answers
GPT-4o mini
The statement that BEST describes the theory of mercantilism is:
**There is a limited amount of wealth in the world.**
Mercantilism is an economic theory that emphasizes the idea that national strength is directly related to the nation’s monetary wealth, which is often viewed as finite. This theory encourages countries to accumulate wealth through a positive balance of trade, primarily by exporting more than they import.
**There is a limited amount of wealth in the world.**
Mercantilism is an economic theory that emphasizes the idea that national strength is directly related to the nation’s monetary wealth, which is often viewed as finite. This theory encourages countries to accumulate wealth through a positive balance of trade, primarily by exporting more than they import.