Question
6. Which statement BEST describes the theory of mercantilism?(1 point)
Responses
People work mainly for selfish reasons
People work mainly for selfish reasons
Competition leads to efficiency.
Competition leads to efficiency.
There is a limited amount of wealth in the world.
There is a limited amount of wealth in the world.
Self-determination is the right of all people
Self-determination is the right of all people
Question 2
7. Globally what happened to economic systems after 1450?(1 point)
Responses
Capitalism was replaced by mercantilism as the world’s most common economic system
Capitalism was replaced by mercantilism as the world’s most common economic system
Mercantilism was replaced by capitalism as the world’s most common economic system
Mercantilism 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
Highland Clearances were replaced by mercantilism as the world’s most common economic system
Indentured servitude 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
Question 3
8. Match the economic theory, basic principles, famous works to Adam Smith or Karl Marx. (6 points)
Put responses in the correct input to answer the question. Select a response, navigate to the desired input and insert the response. Responses can be selected and inserted using the space bar, enter key, left mouse button or touchpad. Responses can also be moved by dragging with a mouse.
Adam Smith Karl Marx
competition economy with limited goverment role
capitalism
socialism/communism
the communist manifesto
the wealth of nations
planned economy with strong government control.
Responses
People work mainly for selfish reasons
People work mainly for selfish reasons
Competition leads to efficiency.
Competition leads to efficiency.
There is a limited amount of wealth in the world.
There is a limited amount of wealth in the world.
Self-determination is the right of all people
Self-determination is the right of all people
Question 2
7. Globally what happened to economic systems after 1450?(1 point)
Responses
Capitalism was replaced by mercantilism as the world’s most common economic system
Capitalism was replaced by mercantilism as the world’s most common economic system
Mercantilism was replaced by capitalism as the world’s most common economic system
Mercantilism 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
Highland Clearances were replaced by mercantilism as the world’s most common economic system
Indentured servitude 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
Question 3
8. Match the economic theory, basic principles, famous works to Adam Smith or Karl Marx. (6 points)
Put responses in the correct input to answer the question. Select a response, navigate to the desired input and insert the response. Responses can be selected and inserted using the space bar, enter key, left mouse button or touchpad. Responses can also be moved by dragging with a mouse.
Adam Smith Karl Marx
competition economy with limited goverment role
capitalism
socialism/communism
the communist manifesto
the wealth of nations
planned economy with strong government control.
Answers
GPT-4o mini
Here are the answers for each question:
**Question 6: Which statement BEST describes the theory of mercantilism?**
- **Response:** There is a limited amount of wealth in the world.
**Question 7: Globally what happened to economic systems after 1450?**
- **Response:** Mercantilism was replaced by capitalism as the world’s most common economic system.
**Question 8: Match the economic theory, basic principles, famous works to Adam Smith or Karl Marx.**
| Adam Smith | Karl Marx |
|----------------------------------------------|---------------------------------------------|
| competition economy with limited government role | planned economy with strong government control |
| capitalism | socialism/communism |
| The Wealth of Nations | The Communist Manifesto |
Feel free to ask if you need further clarification or assistance!
**Question 6: Which statement BEST describes the theory of mercantilism?**
- **Response:** There is a limited amount of wealth in the world.
**Question 7: Globally what happened to economic systems after 1450?**
- **Response:** Mercantilism was replaced by capitalism as the world’s most common economic system.
**Question 8: Match the economic theory, basic principles, famous works to Adam Smith or Karl Marx.**
| Adam Smith | Karl Marx |
|----------------------------------------------|---------------------------------------------|
| competition economy with limited government role | planned economy with strong government control |
| capitalism | socialism/communism |
| The Wealth of Nations | The Communist Manifesto |
Feel free to ask if you need further clarification or assistance!