Due to the fact that they export more items than they import, England has a favorable trade balance.
During the 16th and 17th centuries, mercantilism was the dominant economic doctrine in Europe.
By obtaining precious goods like gold and sustaining a positive trade balance where their exports surpassed their imports, according to mercantilism, nations could gain their riches and power.
England gained its wealth by establishing colonies in North America, which provided the mother nation with raw materials in exchange for manufactured goods exported for colonial use.
The colonists disapproved of Great Britain's mercantilist tactics and non-representative taxation.
Following the French and Indian War, Great Britain suddenly increased taxes and made unfavorable advances, shocking and infuriating the colonies, who then proclaimed the American Revolution.
Learn more about mercantilism as a principle: https://brainly.com/question/909450
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