part d: comparisons & critiques\n16. how did capitalism differ from mercantilism?\na) mercantilism…

part d: comparisons & critiques\n16. how did capitalism differ from mercantilism?\na) mercantilism emphasized government control; capitalism emphasized free markets\nb) capitalism supported tariffs; mercantilism opposed them\nc) mercantilism encouraged competition; capitalism discouraged it\nd) they were exactly the same\n17. which group might have opposed adam smith’s ideas in the 1700s?\na) small farmers\nb) merchants who benefited from mercantilism\nc) factory owners\nd) inventors\n18. which of the following is a criticism of capitalism?\na) it may increase inequality\nb) it encourages competition\nc) it leads to innovation\nd) it supports free markets\n19. what was the main goal of mercantilism, which smith opposed?\na) accumulating wealth through government control of trade\nb) encouraging free trade and competition\nc) improving workers’ rights\nd) promoting equality\n20. which of the following best summarizes adam smith’s view of capitalism?\na) government should plan the economy\nb) individuals acting in their own self - interest help the whole society\nc) workers should control factories\nd) profits are harmful to society

part d: comparisons & critiques\n16. how did capitalism differ from mercantilism?\na) mercantilism emphasized government control; capitalism emphasized free markets\nb) capitalism supported tariffs; mercantilism opposed them\nc) mercantilism encouraged competition; capitalism discouraged it\nd) they were exactly the same\n17. which group might have opposed adam smith’s ideas in the 1700s?\na) small farmers\nb) merchants who benefited from mercantilism\nc) factory owners\nd) inventors\n18. which of the following is a criticism of capitalism?\na) it may increase inequality\nb) it encourages competition\nc) it leads to innovation\nd) it supports free markets\n19. what was the main goal of mercantilism, which smith opposed?\na) accumulating wealth through government control of trade\nb) encouraging free trade and competition\nc) improving workers’ rights\nd) promoting equality\n20. which of the following best summarizes adam smith’s view of capitalism?\na) government should plan the economy\nb) individuals acting in their own self - interest help the whole society\nc) workers should control factories\nd) profits are harmful to society

Answer

Brief Explanations:

  1. Mercantilism involved significant government - control over trade and economic activities, while capitalism emphasized free - market principles.
  2. Merchants who benefited from mercantilism would oppose Adam Smith's free - market ideas as his ideas challenged the mercantilist system.
  3. One common criticism of capitalism is that it can increase economic inequality.
  4. The main goal of mercantilism was to accumulate national wealth through government - controlled trade.
  5. Adam Smith believed in the "invisible hand" where individuals acting in self - interest contribute to the overall good of society.

Answer:

  1. a) Mercantilism emphasized government control; capitalism emphasized free markets
  2. b) Merchants who benefited from mercantilism
  3. a) It may increase inequality
  4. a) Accumulating wealth through government control of trade
  5. b) Individuals acting in their own self - interest help the whole society