Nations following the theory of ________ believed that the world's wealth was limited and that a nation could increase its share of the pie only at the expense of its neighbors.

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Mercantilism is a theory that states that a nation's wealth is limited and that to increase its share, it must increase exports and decrease imports. This theory promotes the idea of accumulating gold and silver reserves through trade surplus and a favorable balance of trade. It views international trade as a zero-sum game, where one nation's gain is another nation's loss.

Nations Following the Theory of ________ Believed That the World's