Consider the following statements: Statement A: A nation's power is measured by accumulating gold and silver reserves. Statement B: Economic self-sufficiency and maintaining a positive trade balance are essential for a country's strength. Statement C: Acquiring colonies is necessary both to obtain raw materials and to create markets for manufactured products. Which economic system do these statements best represent?
Explanation
The statements reflect the principles of mercantilism, an economic theory emphasizing the accumulation of precious metals, economic independence, favorable trade balances, and the use of colonies to support national wealth and industry.