Mercantilism

Definitions

1. The theory that a nation must always have a positive balance of trade, in the manner that a merchant would operate a shop. Typically this model presupposes protectionism.
   countable, historical, uncountable
2. The theory that holds that the prosperity of a nation depends upon its supply of capital, and that the global volume of trade is unchangeable.
   countable, uncountable

Equivalents

CEFR level