mercantilism
Pronunciation
Noun
B2 Upper-intermediate
Quick answer
An economic theory, common in early modern Europe, that a nation's wealth depends on maximizing exports and accumulating gold and silver.
Test yourself
Which word fits the gap? "_____ encouraged colonial powers to control trade tightly rather than let markets operate freely."
Answer: mercantilism
In your own words, what does "mercantilism" mean?
An economic theory, common in early modern Europe, that a nation's wealth depends on maximizing exports and accumulating gold and silver.
Learn next at B2
- meridian An imaginary line running from the North Pole to the South Pole, used...
- metabolism The chemical processes in the body that convert food into energy and m...
- metallic bonding The attraction between positively charged metal ions and a surrounding...
- metamorphism The process by which rock changes into a different type of rock throug...
- metamorphosis A complete change in form or nature, especially the biological process...
- metaphor A way of describing something by calling it another thing entirely, to...