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|Noun||1.||mercantile system - an economic system (Europe in 18th century) to increase a nation's wealth by government regulation of all of the nation's commercial interests|
managed economy - a non-market economy in which government intervention is important in allocating goods and resources and determining prices
Europe - the 2nd smallest continent (actually a vast peninsula of Eurasia); the British use `Europe' to refer to all of the continent except the British Isles