Mercantilism arose largely because _____

Answer 1

of the economic practices and policies of European nations during the early modern period.

Mercantilism is an economic theory and practice that emerged in the 16th and 17th centuries in Europe. It is based on the idea that a country's wealth and power are determined by its accumulation of precious metals, particularly gold and silver.

During this time, European nations sought to establish and maintain colonies to secure resources and markets for their goods. They implemented a range of policies to promote domestic industries, encourage exports, and restrict imports. These measures included tariffs, subsidies, monopolies, and the navigation acts, which required colonial goods to be transported only on British ships.

Additionally, governments practiced protectionism, seeking to achieve a favorable balance of trade by exporting more than importing. They also pursued policies that discouraged consumption and favored saving and investment.

The rise of mercantilism was also influenced by geopolitical rivalries and the desire for national power and prestige. European nations competed with each other for colonies and resources, and mercantilism was seen as a means of increasing their economic and military strength.

Overall, mercantilism arose largely because of the economic practices and policies of European nations during this period, as they sought to expand their wealth and power through colonization, protectionism, and the accumulation of precious metals.