GyanMandal

1. Which of the following describes the economic policy of **Mercantilism**?

A.

The belief that free markets and minimal government intervention are the keys to prosperity.

B.

An economic system based on communal ownership of the means of production.

C.

A system where a country's wealth is measured by its gold and silver reserves, with a focus on maximizing exports and minimizing imports.

D.

The economic philosophy of the laissez-faire approach.

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2. The economic policy of 'Mercantilism' was primarily characterized by which of the following goals?

A.

Promoting free trade and open markets

B.

Maximizing exports and accumulating precious metals

C.

Encouraging agricultural self-sufficiency

D.

Establishing a global common currency

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3. The **economic philosophy of mercantilism** was a key driver of European colonialism because it encouraged what?

A.

The establishment of colonies to serve as a source of raw materials and a market for finished goods

B.

The development of free trade agreements between nations

C.

The abolition of all trade tariffs

D.

The creation of a single global currency

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