noun🔗ShareThe theory that a nation must always have a positive balance of trade, in the manner that a merchant would operate a shop. Typically this model presupposes protectionism."The country's mercantilism led it to impose high taxes on imported goods, aiming to sell more to other countries than it bought from them. "theorynationgovernmenteconomybusinesscommercefinancestatepoliticshistorydoctrineChat with AIVocabulary GamePractice Reading
noun🔗ShareThe theory that holds that the prosperity of a nation depends upon its supply of capital, and that the global volume of trade is unchangeable."The country's mercantilism led it to heavily tax imports, hoping to amass gold and silver and believe that one country's economic gain required another's loss. "theorynationgovernmenteconomybusinessstatehistorycommercefinancepoliticsChat with AIVocabulary GamePractice Reading
