Mercantilism involved: Group of answer choices allowing Americans the ability to govern themselves. one of the earliest experiments in socialism. government’s attempt to maintain a favorable balance of trade. a commitment to absolute free trade. encouraging colonists to develop manufacturing.

Government's attempt to maintain a favourable balance of trade.

Explanation:

It is an economic theory in which the government seeks to regulate the economy and trade by promoting domestic industry. Such policies tend restrict import thereby increasing gold reserves.

government’s attempt to maintain a favorable balance of trade.

Explanation:

Mercantilism is an economic theory that was really important during the 15th through 18th century in Europe. It basically revolved around strong European countries that set up colonies around the world to benefit from trade, e.g. British and Spanish empires. It basically encouraged trade that was favorable for the ruling country and those countries formed huge military forces to protect their interests and persuade other countries not to mess with them.

Mercantilism started to fade as the Spanish empire started to crumble, and soon after the British empire started to face major problems. The US was the first major colony to break ties with a major empire in the 18th century, but soon most of Spanish colonies in Latin America followed. By the beginning of the 19th century the once huge Spanish empire was only a memory. The British empire lasted longer, but it also faced huge problems during the 19th century that forced it to increase military spending and reduced their profits from trade. As America rose as the world's largest economy, mercantilism was replaced by more modern trading theories based on comparative advantages.

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answer; situational irony;