what theory held that competition often was wasteful but did allow for private property?\ncapitalism\nmercant…

Brief Explanations:

Capitalism is an economic - social system that allows private property. Critics have argued that competition in capitalism can be wasteful due to over - production and duplication of efforts. Mercantilism focused on trade surplus and state - controlled economies. Socialism and communism generally aim to reduce private property in favor of collective or state ownership.

Answer:

A. Capitalism