Mercantilism: An economic theory popular in the 16th to 18th centuries that advocated for a nation's wealth to be measured by its accumulation of precious metals through exports and limited imports.
Protectionism: The use of tariffs, quotas, or other trade barriers to shield domestic industries from foreign competition.
Free Trade: A policy promoting minimal restrictions on international trade, allowing goods and services to flow freely between countries without excessive tariffs or regulations.