What is mercantilism?

Question: What is mercantilism!?

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Well, I had a test on this from my professor, and here is what I wroteMercantilism is the idea that a colony should export more goods than it imports and that a colony should sell at higher prices and buy at lower prices!. Economic assets or capital, are represented by bullion (gold, silver, and trade value) held by the state, which is best increased through a positive balance of trade with other nations (exports minus imports)!. Mercantilism suggests that the ruling government should advance these goals by playing a protectionist role in the economy, by encouraging exports and discouraging imports, especially through the use of tariffs!.Www@QuestionHome@Com

Mercantilism: The belief that all countries have a set amount of wealth and the only way to gain wealth is to steal it from other countries!. I memorized the definition ^_^
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