Question

During this era, which two economic philosophies were predominant? A. physiocracy and valuism B. communism and socialism C. mercantilism and capitalism D. marginalism and monetarism

Answer 1

I believe the answer is: C.mercantilism and capitalism

Mercantilism refers to system to include the government in international trade in order to improve the profit of local people. Capitalism refers to the economic system which put more emphasise on free market and less government involvement. These two philosophies are used by almost all countries in the world.

Answer 2

Assuming you're referring to the Industrial Revolution, the correct response would be "C. mercantilism and capitalism" since the mass production of goods on an unprecedented scale meant that capitalist societies thrived from trade.