Economics, Student Value Edition (7th Edition)
Economics, Student Value Edition (7th Edition)
7th Edition
ISBN: 9780134739229
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
Question
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Chapter 1, Problem 1.2.6PA
To determine

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What did mercantilism see as the economic goal for society? Why was poverty seen as essential?   Give one paragraph (short) explanation for the above question.
A large, hardworking population was important for Mercantilism. Why?
Is capitalism associated more with a market or command economy? Why would capitalism be able to do "millions of things better" than a centrally planned economy? What things do you think a capitalist society would be more successful at than a centrally planed society?
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