Which of the following statements captures one of the major differences between liberalism and mercantilism?
A)Liberalism views economic relations as conflictual while mercantilism sees economic relations as harmonious.
B)According to mercantilism, the goal of economic activity is to maximize global welfare, whereas liberalism emphasizes national interests.
C)Mercantilism argues that politics determines economics whereas liberalism claims that economics determines politics.
D)Liberalism argues that politics determines economics whereas mercantilism claims that economics determines politics.

Question

Quizplus · Accepted Answer

Mercantilism posits that economic activities and policies are primarily driven by the needs and strategies of the state, suggesting that political decisions shape economic outcomes. In contrast, liberalism often argues that economic forces and relations can shape political structures and policies, indicating a belief in the primacy of economic factors over political ones.

Which of the Following Statements Captures One of the Major