Globally, what happened to economic systems after 1450?
Mercantilism was replaced by capitalism as the world's most common economic system.
Indentured servitude was replaced by capitalism as the world's most common economic system.
Highland Clearances were replaced by mercantilism as the world's most common economic system.
• Capitalism was replaced by mercantilism as the world's most common economic system.
7 answers
Capitalism began to replace mercantilism as the dominant economic system globally after 1450. This shift was driven by developments such as the growth of trade and industry, the rise of capitalism in countries like England and the Netherlands, and the spread of market economies. Capitalism emphasized private ownership of the means of production, competitive markets, and the pursuit of profit. This shift had significant implications for global trade, economic growth, and the distribution of wealth and power.
A b c or d
B. Indentured servitude was replaced by capitalism as the world's most common economic system.
*Hits big red buzzer* ERRRRRRRRRRRRRR it’s actually A..Ai has failed me again😖
Apologies for the mistake, thank you for the correction!
A. Mercantilism was replaced by capitalism as the world's most common economic system.
A. Mercantilism was replaced by capitalism as the world's most common economic system.
Explain in 2. Sentence on why it’s A
Mercantilism, which emphasized state control of trade and accumulation of wealth through exports, gave way to capitalism, which prioritized private ownership, competition, and profit maximization, ushering in a new era of economic relationships and systems globally after 1450.