mercantilism

mercantilism definition - business

mercantilism

An early European economic system that encouraged the establishment of colonies to supply the home countries with raw materials that would be turned into finished goods and sold to the colonies. The goals were to build industries at home and accumulate gold from a favorable balance of trade.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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