Traders in the seventeenth and eighteenth century were encouraged to focus on selling their nation's goods in the global market to create a favorable balance of trade. Nations attempted to sell more goods to other nations than they bought from other nations. This approach to global trading is called .

Mercantilism

Explanation:

Mercantilism is a system where by a country tries to accumulate wealth by trading with other countries, this is practiced when such country export more goods than they import into their country. This term is also known as commercialism. The aim of policies that supports Mercantilism is so that such country can reduce a situation of current account deficit or attain the level of current account surplus, it was a policy that dominated the 1500s to 1800s

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.