Paraphrase Preview Challenge American Heritage Dictionary • The theory and system of political economy prevailing in Europe after the decline of feudalism, based on national policies of accumulating bullion, establishing colonies and a merchant marine, and developing industry and mining to attain a favorable balance of trade.
Paraphrase Processing Challenge • Mercantilism is:
According to mercantilism • There is a limited amount of wealth in the world.
Every nation wants to keep its share or even earn more. • A nation does this by maintaining a favorable balance of trade, with exports equaling or surpassing imports.
Preferably, IMPORTS EXPORTS
Colonies have major role in mercantilism. • A colony provides raw materials to the mother country to be manufactured into some consumer products.
• Then, colonists buy the finished products, creating a market and creating profits for the mother country.