Definitions
- Describing the quality or characteristic of being mercantile. - Referring to a focus on commercial or financial gain. - Talking about a business-oriented mindset or approach.
- Referring to an economic theory that emphasizes the importance of exports and accumulation of wealth. - Describing a system of trade and commerce that seeks to benefit the home country at the expense of others. - Talking about a protectionist policy that restricts imports and promotes domestic production.
List of Similarities
- 1Both words are related to commerce and trade.
- 2Both words have roots in the word 'merchant'.
- 3Both words emphasize the importance of financial gain.
- 4Both words can be used to describe economic systems or policies.
What is the difference?
- 1Definition: Mercantility refers to a quality or characteristic, while mercantilism refers to an economic theory or system.
- 2Focus: Mercantility focuses on individual or corporate behavior, while mercantilism focuses on national economic policy.
- 3Scope: Mercantility is a broader term that can refer to any aspect of commercial activity, while mercantilism specifically refers to a historical economic theory.
- 4Connotation: Mercantility has a neutral or positive connotation, while mercantilism can have a negative connotation due to its association with protectionism and exploitation.
- 5Usage: Mercantility is less common and more specialized than mercantilism, which is a well-established term in economics and history.
Remember this!
Mercantility and mercantilism are related terms that both relate to commerce and trade. However, mercantility refers to a quality or characteristic of being business-oriented or focused on financial gain, while mercantilism refers to an economic theory or system that emphasizes the importance of exports and accumulation of wealth. Mercantilism is a well-established term in economics and history, while mercantility is a less common and more specialized term.
