Responses
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.
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.
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.
Capitalism was replaced by mercantilism as the world’s most common economic system.
1 answer
The correct response is:
Mercantilism was replaced by capitalism as the world’s most common economic system.
After 1450, particularly during the Age of Exploration and into the Industrial Revolution, economic systems began to shift from mercantilist policies, which emphasized state control and the accumulation of wealth through trade, to capitalism, which focused on private ownership and free markets.
