Globally, what happened to economic systems after 1450?(1 point)
Responses
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.
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.
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, especially with the rise of global trade networks and exploration, mercantilism, which emphasized state control and the accumulation of gold and silver, began to decline in favor of capitalism, which promoted private ownership and free markets as central to economic activity.
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