Mercantilism was an economic theory and practice, dominant in europe from the 16th to the 18th century, that promoted governmental regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers it was the economic counterpart of political absolutism or absolute monarchies mercantilism includes a national economic policy aimed at. Mercantilism means-“governmental regulation of economic affairs, especially, trade and industry” the exponents of mercantilism opined that commerce is the key to progress of every country and it can be achieved at the cost of the interest of other country. Definition mercantilism was a political movement and an economic theory, dominant in europe between 1600 and 1800 the term mercantilism was not in fact coined until 1763, by victor de riqueti, marquis de mirabeau, and was popularized by adam smith in 1776 history of mercantilism. Mercantilism definition: 1 an economic theory developed in the 16th to 18th centuries that says that a government should control the economy and that a nation should increase its wealth by selling more than it buys from other nations2 an economic theory developed in the 16th to 18th centuries holding learn more. Mercantilism is the economic theory that a nation's prosperity depends upon its supply of gold and silver, that the total volume of trade is unchangeable this theory suggests that the government should play an active role in the economy by encouraging exports and discouraging imports , especially through the use of tariffs.
Mercantilism, which existed primarily during the 16th through 18th centuries in europe, was an economic system founded on the belief that the government should encourage trade as a means to generate wealth for the country. Mercantilism noun also called: mercantile system economics a theory prevalent in europe during the 17th and 18th centuries asserting that the wealth of a nation depends on its possession of precious metals and therefore that the government of a nation must maximize the foreign trade surplus, and foster national commercial interests, a merchant. The definition of mercantilism consequently became a hotly contested topic in political and economic theory a debate followed eli f heckscher’s book, mercantilism ( heckscher 1955 , first published in 1935, cited under general overviews ), which first brought mercantilism to the attention of a wider modern audience.
Definition: belief in the benefits of profitable trading commercialism example: the idea of mercantilism helped drive laws in the colonies that would establish england as their only trading partner, to allow england ap world history chapter 38-40 and additional terms features quizlet live quizlet learn diagrams flashcards mobile help. Mercantilism, or mercantile system, is a political economic system whereby countries restrict imports and encourage exports the rationale is to balance foreign trade in such a way that would increase revenue without negatively impacting domestic employment the mercantile system was the standard. Mercantilism stipulates that in order to build economic strength, a nation must export more than it imports to achieve this favorable balance of trade, the english passed regulatory laws exclusively benefiting the british economy.
The most important economic rationale for mercantilism in the sixteenth century was the consolidation of the regional power centers of the feudal era by large, competitive nation-states. Mercantilism believes in a zero-plus policy, where trade benefits one country and harms another historyplex helps us understand what mercantilism is, with the help of its definition, history, and significance. Definition of mercantilism transactions (sales and purchases) having the objective of supplying commodities (goods and services) an economic system (europe in 18th c) to increase a nation''s wealth by government regulation of all of the nation''s commercial interests. Mercantilism - an economic system (europe in 18th century) to increase a nation's wealth by government regulation of all of the nation's commercial interests mercantile system managed economy - a non-market economy in which government intervention is important in allocating goods and resources and determining prices. Mercantilism is the idea that colonies existed for the benefit of the mother country in other words, the american colonists could be compared to tenants who 'paid rent' by providing materials for export to britain according to the beliefs at the time, the wealth of the world was fixed to increase.
Definition of 'mercantilism' word frequency mercantilism in british (ˈmɜːkəntɪˌlɪzəm) noun 1 also called: mercantile system economics a theory prevalent in europe during the 17th and 18th centuries asserting that the wealth of a nation depends on its possession of precious metals and therefore that the government of a nation must. Mercantilism was the primary economic system of trade from the 16th to 18th century with theorists believing that the amount of wealth in the world was static. Mercantilism is a national economic policy that is designed to maximize the trade of a nation history mercantilism was the dominant school of economic thought in europe throughout the late renaissance and early modern period (from the 15th to the 18th century.
Mercantilism, also called commercialism,” is a system in which a country attempts to amass wealth through trade with other countries, exporting more than it imports and increasing stores of gold and precious metals it is often considered an outdated system. In every sense of the term, mercantilism created a new chapter in the annals of european history it played a vital role in making the european countries progressive on the other hand, it sowed the seeds of many rise and fall. Ap world history final study play mercantilism an economic system (europe in 18th c) to increase a nation's wealth by government regulation of all of the nation's commercial interests ottoman empire a turkish sultanate of southwestern asia and northeastern africa and southeastern europe. Mercantilism definition is - the theory or practice of mercantile pursuits : commercialism the theory or practice of mercantile pursuits : commercialism see the full definition.