(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)
Download Audio Pronunciation: mercantilism.mp3
- Also called:
- mercantile system
- A type of economy.
- A (noun) mercantilist advocates for a (adjective) mercantilistic economy.
OpenStax College. 2012. Economic Systems. Connexions, July 16, 2012. (http://cnx.org/content/m42922/1.4/).