The transition from mercantilism to capitalism in Europe involved a shift from state-controlled trade and production to a system where private individuals and companies pursued profit through free markets and competition. This change was facilitated by the rise of industrialization, advancements in technology, and the expansion of global trade networks, leading to greater economic freedom and the development of a monetary economy.
In 1–2 sentences, describe the transition from mercantilism to capitalism in Europe.(2 points)
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