, ECS3705 Assignment 1 (COMPLETE ANSWERS) Semester 2 2025
– DUE 25 September 2025;100% trusted ,comprehensive and
complete reliable solution with clear explanation
QUESTION 1 [18]
Having studied the Mercantilist school of thought, write a three-
paragraph essay discussing Mercantilist views on wealth creation,
wealth stimulation, and the role of government in the economy.
Introduction
The Mercantilist school of thought, dominant in Europe between the
sixteenth and eighteenth centuries, profoundly shaped the early modern
world by linking economics with state power. At its core, Mercantilism
defined wealth not in terms of productive capacity or individual
prosperity, but in the accumulation of precious metals—particularly gold
and silver—that could finance armies, navies, and the expansion of
empire. This view reflected a belief in the finiteness of global wealth,
where one nation’s gain was necessarily another’s loss, making trade
competition and political rivalry inseparable.
Economic activity was therefore viewed less as a matter of private
enterprise and more as a tool for strengthening the state. Governments
– DUE 25 September 2025;100% trusted ,comprehensive and
complete reliable solution with clear explanation
QUESTION 1 [18]
Having studied the Mercantilist school of thought, write a three-
paragraph essay discussing Mercantilist views on wealth creation,
wealth stimulation, and the role of government in the economy.
Introduction
The Mercantilist school of thought, dominant in Europe between the
sixteenth and eighteenth centuries, profoundly shaped the early modern
world by linking economics with state power. At its core, Mercantilism
defined wealth not in terms of productive capacity or individual
prosperity, but in the accumulation of precious metals—particularly gold
and silver—that could finance armies, navies, and the expansion of
empire. This view reflected a belief in the finiteness of global wealth,
where one nation’s gain was necessarily another’s loss, making trade
competition and political rivalry inseparable.
Economic activity was therefore viewed less as a matter of private
enterprise and more as a tool for strengthening the state. Governments
