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1.13: The Reformation — History & Civics STD 9 — Question

ICSE BoardEnglish MediumSTD 9History & Civics1.13: The Reformation2 Marks
Question
With reference to Mercantilism answer the following question:
What is meant by the term Mercantilism?
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Answer

Mercantilism refers to a collection of economic maxims of strict practical utility aimed at maintaining a favorable balance of trade by discouraging imports and encouraging exports. These were meant to ensure the prosperity and security of the state.

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