Mercantilism was an economic theory that focused on a nation's wealth accumulation through trade practices like boosting exports and limiting imports.
Mercantilism was an economic theory prevalent in Europe from the 16th to the 18th centuries. It emphasized that a nation's prosperity depended on accumulating wealth, usually in the form of bullion, through a positive balance of trade achieved by boosting exports and limiting imports. This meant encouraging domestic industry, imposing tariffs, and using colonies as sources of resources and markets.
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