Mercantilism Definition for Kids Mercantilism is an economic theory that developed circa 16th century and was a widespread practice through the 18th century. Most scholars and historians agree with that timeline and also argue that mercantilism doesn’t exist today, that the theory is not relevant and indeed a mistake.
Mercantilism facts for kids. Kids Encyclopedia Facts. A painting of the French seaport of Claude Lorrain from 1638, at the height of mercantilism. Mercantilism is a kind of economic system that was present in most parts of Europe between the 16th and the 18th century.
For Kids. Mercantilism is all about trade and how trade is conducted. Mercantilism is a system of government controlled trade. It is not a system of free trade. The different between mercantilism and free trade has everything to do with who controls the price and the destination of both imports and exports. In free trade or capitalism, control ...
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
Definition of the Mercantilism The Meaning and Definition Mercantilism: Mercantilism, also called the mercantile system, was based on the benefits of profitable trading. Countries adopted trade policies that favored the flow of wealth from the colonies to the mother country. Also refer to Colonialism. Mercantilism revolves around trade
Mercantilism definition is - the theory or practice of mercantile pursuits : commercialism. the theory or practice of mercantile pursuits : commercialism… See the full definition. ... Meet Puku, Our New Kids' App! Learn More from M-W . Merriam-Webster's Words of the Year 2019.
Mercantilism is the word historians use to describe a group of economic rules imposed on the colonies by the European empires. In this lesson, we will learn more about these rules and their effect ...
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 It is often considered an outdated system.
Mercantilism stated that all the world's people must compete for the world's limited wealth. Adam Smith believed that wealth and trade was a non-zero-sum game, which essentially means that because needs are different, two parties involved in a transaction could each actually gain, because the exchanged items were more valuable to their new owners.