mercantilism
/ˈmɜːkəntɪlɪzəm/noun
उच्चारण मर्कन्टिलिज़म
वणिकवाद, व्यापारवाद
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noun
- 1
[U] technical
the economic theory that trade makes a country rich, and that a government should increase exports, reduce imports and build up stores of gold and silver
वणिकवाद, व्यापारवाद
- European colonial powers followed mercantilism for nearly three centuries.
- Adam Smith strongly criticised mercantilism in The Wealth of Nations.
◇Word family
mercantilist nounmercantile adjective
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General knowledge
Mercantilism was the main economic policy of European states from the 16th to the 18th century, and it treated colonies as sources of cheap raw materials and markets for finished goods.
Mercantilism 16वीं से 18वीं शताब्दी तक यूरोपीय देशों की मुख्य आर्थिक नीति थी, और इसमें उपनिवेशों को सस्ते कच्चे माल के स्रोत और तैयार माल के बाज़ार के रूप में देखा जाता था।