Mercantilism means

Question

Mercantilism means

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Mercantilism is a system in which a government seeks to increase its wealth and power by carefully regulating trade and commerce, often by pursuing a favorable balance of trade through tariffs, subsidies, and other measures that promote exports and limit imports. This approach was prevalent in Europe during the 16th to 18th centuries, often associated with the emergence of modern nation-states and their efforts to build strong economies and militaries. In contrast to free trade, which emphasizes the benefits of voluntary exchange between individuals and nations, mercantilism tends to prioritize state interests and the accumulation of gold and silver reserves as a measure of success.

Mercantilism Means