Mercantilism is an economic system [a way of managing money and resources] that focuses on a country’s economic power and wealth through trade. It aims to increase exports [goods sold to other countries] and decrease imports [goods bought from other countries]. The government plays a central role by imposing tariffs [taxes on imported goods] and implementing policies to support domestic industries [industires within the country]. For example, a country practicing mercantilism may encourage the growth of its own industries to produce goods that can be sold to other countries, while restricting the import of similar goods.
Very Simple Definition:
Mercantilism is an economic system where a country tries to sell more things to other countries and buy fewer things from them. The government helps its own industries by adding taxes to foreign goods and supporting local businesses. For example, a country practicing mercantilism may try to make and sell a lot of its own products, like clothes or cars, to other countries, while not buying many products made by others.