What was the economic system prevailing in Europe in the 1500s and 1600s which favored a balance of exports over imports with a focus of wealth measure by gold and silver?

The economic system prevailing in Europe during the 1500s and 1600s was mercantilism. This system emphasized the importance of accumulating wealth, primarily in the form of gold and silver, through a favorable balance of trade, where exports exceeded imports. Mercantilist policies encouraged government intervention in the economy to promote national interests, secure colonies, and enhance a nation's economic power. This approach laid the groundwork for the rise of colonial empires and increased competition among European nations.