the theory of ______________ says that nations are likely to export products that are less expensive to produce and import those products that are either expensive or unavailable at home.

This is blank can be filled with the theory of Mercantilism. This says that to export products that are less expensive to produce and import those products that are either expensive or unavailable at home.

What is the theory of Mercantilism?

Mercantilism is an economic theory that allows to government to regulate the market to promote domestic exports. This policy restricts imports but allows the storage of valuable things such as gold, precious items which is rare.

There are some characteristics of Mercantilism that are

Storage of gold and precious metals
Large population
Increase exports and decrease imports
Positive balance of trade
State monopolies
State Barriers

Therefore the theory of Mercantilism focused on domestic industries.

Learn more about the Theory of Mercantilism here:

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