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

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

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

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

The economic philosophy of the laissez-faire approach.

Mercantilism was a dominant economic theory in Europe from the 16th to the 18th centuries. Its goal was to increase a nation's wealth by accumulating gold and silver, which was achieved by promoting exports and limiting imports to create a favorable balance of trade.

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