According to the theory of mercantilism, a country has a favorable balance of trade when.

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Answer 1

When a country could increase its wealth and power by obtaining as much gold and silver as possible and then sold more goods than it bought then it has a favorable balance of trade. In other words, whenever a nation's value of their exports is greater than the value of their imports then it has a favorable balance of trade. This is all according to the Theory of Mercantilism.

A system where more products leave the country to be sold than there were commodities going into the country to be bought was the goal of the colonialists' medieval theory of mercantilism, which is a set of state policies for the control of economic activities and trade.

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Related Questions

when should a factory stay open even if it is losing money

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Even if a business ceases to exist, it will continue to pay its fixed costs, or the price for the fixed inputs.

Should a firm shut down immediately if it is making losses?

If ceasing operations would result in a smaller loss for the company, it should do so. When the variable cost exceeds the total revenue, the shutdown occurs. The company will not be able to make a profit in the short term if it continues to run when the average variable cost is higher than the price.

How long can a company operate at a loss?

You can only deduct losses from your business for three out of five tax years, according to the IRS. The IRS may prevent you from deducting business losses from your taxes if you can't demonstrate that your company is beginning to turn a profit.

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Use the P-L-O-C functions of management to list what is to happen in each step of your task, from beginning to the end. Be sure to work efficiently
and effectively. Think back to the example I gave in class about painting the room. Choose a task, the put the 4 functions of management to work to create your plan of action.

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Four crucial functions can be used to summarize management ideas. Planning, organizing, leading, and controlling are these tasks. The P-O-L-C framework offers helpful direction for the optimal managerial position.

What is the importance of planning?

Planning enables us to identify potential barriers to our goal's achievement as well as potential facilitators and to determine what to do about each. Making plans enables us to take responsibility for our actions.

In the early 1900s, Henri Fayol first classified them as five functions. Planning, organizing, leading, and controlling are the four primary management activities that have been consolidated and decreased over time from all of Fayol's individual roles.

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