Question
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.
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GPT-4o mini
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.
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.