D. the state plays a more active role in coordinating economic activity. The dif
ID: 1191837 • Letter: D
Question
D. the state plays a more active role in coordinating economic activity.
The difference between capitalism and mercantilism is that under capitalism: A. the "invisible hand" is more important than the government. B. industrialists' views are represented by craft guild organizations. C. craft guilds rather than merchants own capital.D. the state plays a more active role in coordinating economic activity.
Which of the following factors did NOT lead to the development of the Feudalist society? A. The importance of land and the way in which it was passed on. B. Rapid technical innovations C. A world view that emphasized natural order D. The need for protectionExplanation / Answer
The difference between capitalism and mercantilism is that under capitalism: A. the "invisible hand" is more important than the government.
Which of the following factors did NOT lead to the development of the Feudalist society?
Rapid technical innovations
Refer definitions of capitalism, mercantilism and feudalism for a better understanding :
Mercantilism was a popular economic philosophy in the 17th and 18th centuries. In this system, the British colonies were moneymakers for the mother country. The British put restrictions on how their colonies spent their money so that they could control their economies.
Feudalism was a combination of legal and military customs in medieval Europe that flourished between the 9th and 15th centuries. Broadly defined, it was a way of structuring society around relationships derived from the holding of land in exchange for service or labour.
Capitalism is an economic system in which trade, industries, and the means of production are largely or entirely privately owned and operated for profit. Central characteristics of capitalism include private property, capital accumulation, wage labour and, in many models, competitive markets.
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