Examlex
What are the various characteristics of the social age?
Mercantilism
A trade theory which suggests that trade generates wealth for a country with a trade surplus, with emphasis on colonization and military conquest.
Interventionist Trade Theory
A theory suggesting that government intervention in international trade through policies and regulations is necessary to correct market failures and protect domestic industries.
Trade Surplus
Occurs when a country's exports exceed its imports, indicating a positive balance of trade.
Neo-Mercantilism
A trade theory which suggests that trade generates wealth for a country with a trade surplus, with emphasis on rapid economic development.
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