Mercantilism or Free Enterprise

Front

This system allows businesses to operate with minimal government intervention, emphasizing private ownership and the freedom to compete.

Back

The Free Enterprise System

Front

Characterized by minimal government regulation, lower taxes, private property, competition, and entrepreneurship.

Back

Free enterprise

Front

Involves the economic policy of accumulating wealth through trade, often seen with colonial powers like Britain extracting resources from colonies.

Back

Mercantilism

Front

An economic system where private individuals and businesses have the freedom to operate for profit with minimal government interference.

Back

Free enterprise

Front

A system where the mother country restricts colonial trade with other nations to benefit from the exchange of goods.

Back

Mercantilism

Front

The role of the government is typically limited to protecting property rights in this system.

Back

Free enterprise

Front

A low tax burden encourages investment, entrepreneurship, and economic growth by allowing individuals and businesses to retain more of their earnings.

Back

Free enterprise

Front

Taxes are used to finance government activities such as building roads, national defense, and social services.

Back

Free enterprise

Front

Colonies provide raw materials to the mother country and serve as markets for its manufactured goods.

Back

Mercantilism

Front

Economic policies involve heavy government regulation of the economy, including tariffs, to protect domestic industries and control trade.

Back

Mercantilism