What is the first international trade theory?
A) mercantilism
B) absolute advantage
C) laissez faire
D) none of the above

Question

Quizplus · Accepted Answer

Mercantilism is considered the first international trade theory, which emerged in Europe during the 16th and 17th centuries. It was based on the idea that a country's wealth and power depend on accumulating gold and silver through exports and limiting imports. This theory dominated economic thinking at the time and influenced policies such as protectionism and subsidies for exports.

What Is the First International Trade Theory