Answered

Match each word with the phrase that best defines it.
mercantilism
regulate
capitalism
accumulate
laissez-faire
a term that means "leave it alone"
to create laws and rules for
something
an economic system that emphasizes
private ownership
to gain more of something a little at a
time
an economic theory based on nations
controlling trade to gain wealth



Answer :

GinnyAnswer

Final answer:

Mercantilism emphasizes wealth accumulation through trade control, while capitalism promotes market-driven supply and demand with minimal government interference. Laissez-faire advocates for a hands-off market approach for optimal societal outcomes.


Explanation:

Mercantilism:

Mercantilism is an economic theory that emphasizes a nation's wealth accumulation through increasing exports and limiting imports. It was prevalent between the 16th and 18th centuries and involved government intervention in the economy to promote national prosperity.

Capitalism:

On the other hand, capitalism, also known as free market capitalism, is a system where individuals and private entities own resources and market forces determine supply and demand with minimal state intervention. Self-interest, competition, and private property are core tenets of capitalism.

Laissez-faire:

Laissez-faire represents a hands-off approach, where the market operates freely without government interference. It promotes individual choices, competition, and ideally leads to optimal outcomes for society.


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