Which one of the following theories says that “to export was good and to be encouraged but to import…
Mercantilist Theory (dominant in 16th–18th century Europe) viewed international trade as a zero-sum game where national wealth depended on accumulating gold and silver…
Choose your answer
Which one of the following theories says that “to export was good and to be encouraged but to import was bad and to be discouraged”.
Answer and explanation
Correct answer D
Mercantilist Theory (dominant in 16th–18th century Europe) viewed international trade as a zero-sum game where national wealth depended on accumulating gold and silver bullion, and therefore held that 'to export was good and to be encouraged, but to import was bad and to be discouraged' through high tariffs and restrictions.
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UGC NET Commerce