Banking Industry: The banking industry refers to the sector of the economy that deals with financial institutions such as banks and credit unions. These institutions provide services like depositing money, lending funds, and managing investments.
Mercantilism: Mercantilism is an economic theory prevalent during the late 1700s that focused on maximizing a nation's wealth through government regulation of international trade. It aimed at accumulating precious metals and promoting exports while limiting imports.
Tariffs: Tariffs are taxes imposed by governments on imported goods or services. They are used to protect domestic industries from foreign competition by making imported products more expensive for consumers.