The economic systems and their characteristics are:
Capitalism:
- emphasizes competition
- rewards personal initiative
- pursuit of profit
- advocated by Adam Smith, the “father of modern economics” and author of The Wealth of Nations; doctrine of economic opportunity with little to no government intervention
- doctrine that people can be more prosperous without government intervention
Mercantilism:
- private ownership
- governments sought to gain power by accumulating more wealth than other nations
Communism:
- grew out of socialism
- was a reaction to capitalism
- controls not only all factors of production, but all areas within society
- classless society
- system most associated with Karl Marx, co-author of The Communist Manifesto with Friedrich Engels
- North Korea
Socialism:
- seeks an economy under the collective social control of the working class
- Sweden
<h3>What are types of economic systems?</h3>
Capitalism or Free enterprise is a system that encourages people to get into business for the purpose of making profit. It also allows for private ownership of assets.
Communism does not allow for private ownership and does not believe in a society that has classes. North Korea is an example even though it has classes.
Socialism is a system that calls for the economy to be run by the working class while mercantilism calls for governments to accumulate wealth.
Find out more on Socialism at brainly.com/question/839803
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A jihad is a religious struggle for the cause of God.
He was the one who invented electricity
Answer:
D
Explanation:
It boosted morale because it was their first victory, and more people volunteered because they saw the british could be beaten.
To start Daniel Shay was a farmer and not rich, the wealthy were scared that farmers would kill or hurt them, or even try to take over the government. The rebellion was fairly violent. I learned this a few years ago sorry if some details are slightly dry. Hope this helps though!
