According to mercantilism, a nation's strength depends on what?

• A. Military power
• B. Wealth accumulation
• C. Cultural dominance
• D. Technological advances

Answer: (B)

Mercantilism is an economic theory that was prominent from the 16th to the 18th century, emphasizing that national strength is directly tied to wealth accumulation. According to mercantilist thought, a nation's prosperity is best served by maximizing exports and minimizing imports to amass precious metals, primarily gold and silver. This accumulation of wealth fosters a strong economy, which in turn enables the nation to maintain a powerful military and exert influence globally.

While military power, cultural dominance, and technological advances can contribute to national strength, they are seen as secondary to the paramount importance of wealth in mercantilist philosophy. Wealth accumulation provides the resources necessary for a nation to support its military and maintain its global influence, making it the fundamental aspect of national strength within this economic framework.