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Mercantilism

Mercantilism

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Published by ragusaka

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Published by: ragusaka on Nov 04, 2009
Copyright:Attribution Non-commercial

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01/14/2013

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Mercantilism
Definition & Characteristics
 
The real wealth of the nation wasthought to be the supply of money and precious metals heldby its government and people.
Mercantilism
 
Characteristics of Mercantilism
1.Dictateda favorable balance of trade.
 ±
Export more than you import [a trade surplus].
 ±
H
igh tariffs on imported manufactured good.
 ±
Low tariffs on imported raw materials.
2
.
Each nation must try to achieve economicself-sufficiency.
 ±
Those founding new industries should berewarded by the state.

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