Mercantilism: An economic system where a country aims to accumulate wealth through trade surpluses, often involving strict regulations and protectionist measures.
Industrial Revolution: A period of rapid industrialization and technological advancements in Britain during the late 18th and early 19th centuries, leading to significant changes in manufacturing, agriculture, and transportation.
Laissez-faire capitalism: An economic philosophy advocating minimal government intervention in markets, allowing free competition and private ownership.