Which economic policy aimed at increasing wealth through obtaining gold and exporting more than importing is known as?

The economic policy that aimed at increasing wealth by acquiring gold and ensuring that a nation exported more than it imported is known as mercantilism. This system, which dominated European economic thought from the 16th to the 18th centuries, was based on the belief that a nation's power depended on its wealth, particularly in precious metals.

Mercantilists advocated for a favorable balance of trade, which meant that countries should focus on exporting more goods than they import to increase their reserves of gold and silver. This policy encouraged countries to establish colonies and exploit them for resources while also imposing tariffs on imports to protect domestic industries.

In contrast, communism proposes a classless society with common ownership of production, capitalism focuses on private ownership and free markets, and feudalism is a social system prevalent in medieval Europe characterized by the exchange of land for service. These alternatives do not align with the mercantilist emphasis on national wealth accumulation through trade balances and resource control.