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Mercantilism was an economic theory and practice dominant in Europe from the 16th to the 18th centuries, emphasizing the accumulation of wealth, primarily gold and silver, as the measure of national power. Its core principle was that a nation’s wealth and strength depended on maintaining a favorable balance of trade, exporting more than importing. Governments actively intervened in the economy through tariffs, subsidies, and monopolies to achieve _____ ________ _______ _________ ______ ______ __________ ___ _________ __________ ________.
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