noun Download 🔗Share The 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. Examples : "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. " theory nation government economy business commerce finance state politics history doctrine Chat with AIVocabulary GamePractice Reading
noun Download 🔗Share The theory that holds that the prosperity of a nation depends upon its supply of capital, and that the global volume of trade is unchangeable. Examples : "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. " theory nation government economy business state history commerce finance politics Chat with AIVocabulary GamePractice Reading
