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1. Which statement about mercantilism is FALSE? Mercantilists believed a country should attempt to maximize the gold and silver within its borders. Mercantilists believed that foreign trade was beneficial for both countries involved. A leading theorist of mercantilism was Jean-Baptiste Colbert. Mercantilists favored the importation of raw materials and the exportation of finished manufactured goods.

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The correct answer is B) Mercantilists believed that foreign trade was beneficial for both countries involved.

The statement about mercantilism that is false is "Mercantilists believed that foreign trade was beneficial for both countries involved."

Quite the opposite, mercantilism only ambitioned more richness to European superpowers such as Great Britain.

During colonial times in North America, Great Britain adopted the mercantilism economic system from the 1500s to the 1700s. Britain and other European superpowers tried to accumulate richness because they thought that resources in the world were limited. So these nations tried to get more and more to maximize the exports and minimize the imports. European monarchies were only interested in exploiting the raw materials and natural resources of their colonies.

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