Mercantilism Quiz

When did mercantilism span from?

• 16th century to 18th century

• 14th century to 16th century

• 18th century to 20th century

• 10th century to 12th century

What was the purpose of mercantilism?

• To reduce governmental regulation of the economy

• To encourage imports over exports

• To increase state power at the expense of rival national powers

• To promote free trade

According to mercantilism, what was the world's wealth considered as?

• Fluctuating

• Unpredictable

• Static

• Dynamic

What did the Navigation Act of 1651 forbid?

• Foreign vessels from trading along the British coast

• All of the above

• Colonial exports passing through British control

• Manufacturing in colonies

According to mercantilism, what was considered indispensable to a nation's wealth?

• Oil and gas

• Precious metals like gold and silver

• Agricultural output

• Manufacturing capabilities

What did advocates of laissez faire argue against mercantilism?

• All of the above

• The idea that a nation could grow rich only at the expense of another

• Trade being a one-way street

• All trade being beneficial

What did mercantilism provide a favorable climate for the early development of?

• Socialism

• Capitalism

• Communism

• Feudalism

According to mercantilism, what was regarded as virtues for creating capital?

• Extravagance and luxury

• Thrift and saving

• Parsimony and wastefulness

• All of the above

What did mercantilism promote governmental regulation of?

• A nation's economy

• Education

• Healthcare

• Religion