Question

quiz worlds entangled
started: sep 14 at 3:11pm
quiz instructions
a quiz on week 05 assigned readings and videos.
10 questions, selected at random.
multiple choice. 30 minutes total.
question 3 1 pts
what was the economic philosophy called that assumed that the worlds wealth was fixed and one country could only increase its wealth at the expense of another?
capitalism
mercantilism
communism
monetarism

Explanation:

Mercantilism is an economic philosophy that assumes the world's wealth is fixed and a country can increase its wealth by having a favorable balance - of - trade at the expense of other countries. Capitalism is based on private ownership and free - market competition. Communism aims for a classless society with common ownership of the means of production. Monetarism focuses on the role of money supply in the economy.

Answer:

B. Mercantilism