MERCANTILISM

noun
18 Scrabble
23 WWF
M 3
E 1
R 1
C 3
A 1
N 1
T 1
I 1
L 1
I 1
S 1
M 3

Definition

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.

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