Mercantilism answ - Study guides, Class notes & Summaries

7 institutions in the EU -ANSWER European Council Council of the EU Court of Justice of the EU European Commission European Parliament Council of Europe super-democracy -ANSWER the people decide everything globalization -ANSWER the process by which markets are integrated worldwide mercantilism -ANSWER countries should encourage exports and discourage imports zero-sum trade -ANSWER a gain for one country is a loss for another positive-sum trade -ANSWER all countries can mutual...

WGU C211 Common International Economy Terms Question with complete solution 2023/2024 Foreign Direct Investment (FDI) - correct answer Investment in, controlling, and managing value-added activities in other countries. Mercantilism/Theory of Mercantilism - correct answer A theory that suggests that the wealth of the world is fixed and that a nation that exports more and imports less will be richer. Strategic Trade Policy - correct answer Government policy that provides companies a s...

Liberalism -ANSWER Government rule is to create rules of the game and enforce them so everyone can participate fairly; everyone is better off from trade due to the increase of economic effeciency Mercantilism -ANSWER Humans are selfish and markets cannot function w/o state intervention; national wealth and power is sole goal which can be achieved through protectionism; zero-sum game of exporting more than importing (gain for one equals loss for another) State Capitalism -ANSWER The use of ...