Mercantilism is an economic theory and practice dominant in Europe during the 17th and 18th centuries that promoted governmental regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers. It advocates that a nation should export more than it imports to accumulate wealth, primarily in the form of precious metals like gold and silver. Under mercantilism, trade surpluses were viewed as critical for increasing the nation's reserves.
An economic measure that represents the sum total of the value of all capital and goods held within a nation. It encompasses the net value of all assets owned by residents and businesses of a country at a particular time.
