What was the economic philosophy called that assumed that the world's wealth was fixed and one country could only increase its wealth at the expense of another?
A) capitalism
B) absolutism
C) monetarism
D) mercantilism

Question

Quizplus · Accepted Answer

Mercantilism is the economic philosophy that posits the amount of wealth in the world is static, and nations must compete to acquire the largest share of this wealth. It emphasizes the importance of accumulating precious metals and maintaining a favorable balance of trade to increase a country's wealth.

What Was the Economic Philosophy Called That Assumed That the World's