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With reference to Mercantilism answer the following question:What is meant by the term Mercantilism? - History and Civics

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Question

With reference to Mercantilism answer the following question:
What is meant by the term Mercantilism?

Short Note

Solution

Mercantilism refers to a collection of economic maxims of strict practical utility aimed at maintaining a favorable balance of trade by discouraging imports and encouraging exports. These were meant to ensure the prosperity and security of the state.

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