Please select the word from the list that best fits the definition a device used to find latitude

Mercantilism.

Step-by-step explanation:

Mercantilism is a set of ideas, a system which was quite popular in Europe in the 17th and 18th century.

Some of its basic principles are:

- increasing export while decreasing import

- which should enable accumulation of capital in the form of gold and silver

- strong agriculture that would decrease the need for import

- using colonies for gaining cheap resources and for selling the final products.

Many of the late-18th-century thinkers and economists opposed mercantilism pointing out its shortcomings and weaknesses, and it's deemed an obsolete method today.