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Problem 15 - Entrance Test
Which of the following best describes the economic policy of mercantilism, prevalent in Europe during the 16th-18th centuries?
A. A system of free trade and minimal government intervention in the economy.
B. A policy of maximizing exports and minimizing imports to accumulate national wealth.
C. A focus on agricultural production and self-sufficiency.
D. A system of state-owned enterprises and centrally planned economies.
Check Answer
Show Solution
Correct: B
Mercantilism emphasized state control over the economy with the aim of maximizing exports and accumulating precious metals to enhance national power.