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             Between the sixteenth and eighteenth centuries, mercantilism was the .
             policy that heavily influenced western Europe and took the place of medieval feudalism. .
             The term mercantilism was first used in 1776 by an economist, Adam Smith, from the.
             latin word mercari meaning " to run a trade". .
             Mercantilism is a policy that are based on many ideas. Bullionism was .
             the belief that economic wealth of a nation could be measured by the amount of precious .
             metals it possessed. Bullionism have a favorable balance of trade by exporting more .
             than importing which the nation profit with gold at the end of the year. Commerce should.
             have a favorable balance of trade trade also. Tariffs should be higher on imported .
             manufactured goods and lower on imported raw material. Conolies could provide .
             markets for manufactured goods and sources of raw material. A large population is .
             needed to provide a domestic labor force. Seapower was necessary to control foreign.
             markets because a powerful merchant fleet would avoid the need to borrow ships of.
             other nations and become dependent on the assistance of other nations as well. A .
             power fleet could provide more prestige and military power to a nation. .
             I believe that mercantilism is a theory that has a lot of good ideas behind it .
             which can help a nation with their economic wealth but may be unfair to other countries. .
             An example of mercantilism being used by a nation is England. England passed the .
             Navigation Acts in 1651. The acts were designed to control trade with its colonies. The .
             laws forced the colonies to trade only with England and were not allowed to make any.
             products they bought from England. All goods had to be shipped on English ships or .
             built ships in the colonies. No Dutch, French or Spanish ships could sell or trade their.
             goods to the colonies and the colonies could not sell raw materials to them. The colonists.
             became very angry as each new act were passed by England but they were able to find.

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