Mercantilism and Capitalism Quiz

What was the main goal of countries under Mercantilism?

• To control the means of production

• To promote free trade

• To encourage competition

• To accumulate gold and silver

Which economic practice believed in hoarding gold and silver?

• Mercantilism

• Communism

• Capitalism

• Socialism

What is the main difference between Mercantilism and Capitalism?

• Control of economic activities

• Focus on international trade

• Role of government in the economy

• Ownership of means of production

What determines how resources are used and distributed in Capitalism?

• Supply and demand

• Government policies

• Colonial markets

• Individual businesses

Which economic system became dominant in the 18th century?

• Mercantilism

• Capitalism

• Socialism

• Feudalism

What historical changes accompanied the transition from Mercantilism to Capitalism?

• Enlightenment

• French Revolution

• Industrial Revolution

• Renaissance

What led to the development of Capitalism?

• State-controlled trade

• Colonial markets

• Industrial and technological advances

• Feudalism

What is the relationship between Mercantilism and Capitalism?

• Mercantilism and Capitalism coexisted

• Capitalism is a form of Mercantilism

• Capitalism replaced Mercantilism

• Mercantilism led to the development of Capitalism

What is the main focus of both Mercantilism and Capitalism?

• Creating wealth and expanding economic activities

• Promoting social equality

• Controlling international trade

• State ownership of industries

What game analogy is used to explain Mercantilism?

• Playing a game of strategy

• Setting up a shop in a marketplace

• Competing with friends

• Collecting gold coins