A ________ system of economics requires that the government play a protectionist role in encouraging exports and discouraging imports, generally through the use of tariffs.
A) neoliberal
B) capitalist
C) mercantile
D) Manchester School

Question

Quizplus · Accepted Answer

A mercantile system of economics emphasizes the accumulation of wealth and encourages exports over imports. The government plays a protectionist role through the use of tariffs to promote exports and discourage imports. This system is also known as mercantilism. Neoliberalism is a free-market economic philosophy that emphasizes individual freedoms and limited government intervention. Capitalism is an economic system that emphasizes private ownership of the means of production and market-based exchange. The Manchester School was a group of economists in the 19th century who advocated for free trade and laissez-faire policies.

A ________ System of Economics Requires That the Government Play