According to the thinking of Enlightenment economists (a) Markets and trade shou

Question

According to the thinking of Enlightenment economists (a) Markets and trade should be heavily regulated b) Only the King and his government could determine the patterns of trade for a country (c) A free market is the best way to regulate trade (d) Guilds and monopolies promoted economic growth 5. 6. Mercantilism, as opposed to the thinking of Enlightenment economists, was a belef that (a) Guilds were not a good way to organize skilled labor (b) Monopolies and guilds promoted trade that was good for the (c) Free trade was the route to economic growth (d) Monopolies would slow economic expansion of the empire empire

Explanation / Answer

First question is answered below

1.

Correct option: (c) free market...regulate trade

Reason: Enlightenment Economics is a consultancy specialising in economic issues related to new technologies, innovation, competition etc. They believe in free trade and free market equilibrium as free markets bring in higher incentive for firms to grow and develop furthur.

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