Established government policies that favored merchants and protected the nation’s economy

Mercantilism is created to protect both government and the merchants. In the past, mercantilism was the main source of Great Britain economic development. Mercantilism is one of the way government s to create economic policies as well as create money reserves from the taken from trade.

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annyksl annyksl · Answer 2 · 2019-07-31T22:02:18+02:00

Answer:

Mercantilism

Explanation:

Mercantilism was the set of economic ideas and practices adopted and developed in Europe during the phase of commercial capitalism. Mercantilism was intended to establish government policies that would favor traders and protect the country's economy.

Mercantilism is characterized by representing state intervention in the economy, creating a series of protectionist processes that ensured enrichment based on the amount of capital stored in its coffers. It was the bourgeoisie and the nobility who made the most of this economic system.

Mercantilist policy is based on the idea that the wealth and development of the country was proportional to the amount of precious metals (mainly gold and silver) in their possession. The greater the accumulation of these riches, the greater the prestige and respect that the country would have among other nations.