Mercantilism
Nations build wealth by controlling trade with their colonies
Trade
Exchange of goods and services in a market
Export
Goods sent to another country
Import
A good or service brought in from another country for sale
Tariff
Government tax on imports or exports
Motherland
A country that establishes colonies
Raw Goods
Natural resources used to make other products
Manufactured Goods
Products that are made from raw goods
Economics
The study of production, consumption, and transfer of wealth.
wealth
Prosperity
smuggle
import or export without paying customs duties
policy
framework for governance