mercantilism

(noun) “[A]n economic policy based on national policies of accumulating silver and gold by controlling markets with colonies and other countries through taxes and customs charges” (OpenStax College 2012).

Audio Pronunciation: (mer·can·til·ism)

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Usage Notes:

  • Also called:
    • commercialism
    • mercantile system
  • A type of economy.
  • A (noun) mercantilist advocates for a (adjective) mercantilistic economy.

Related Terms: 

 


References

OpenStax College. 2012. Economic Systems. Connexions, July 16, 2012. (http://cnx.org/content/m42922/1.4/).