15. Which statement BEST describes the theory of mercantilism?(1 point) Responses 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. There is a limited amount of wealth in the world. Competition leads to efficiency. Competition leads to efficiency. People work mainly for selfish reasons.
1 answer
The statement that BEST describes the theory of mercantilism is: "There is a limited amount of wealth in the world."
Mercantilism posits that national strength is derived from an accumulation of wealth, primarily through trade, and that a nation's economic power is best served by increasing exports and accumulating precious metals, implying a finite amount of wealth available.
