Globally, what happened to economic systems after 1450?(1 point)
Responses
Indentured servitude was replaced by capitalism as the world’s most common economic system.
Capitalism was replaced by mercantilism as the world’s most common economic system.
Mercantilism was replaced by capitalism as the world’s most common economic system.
Highland Clearances were replaced by mercantilism as the world’s most common economic system.
Mercantilism was replaced by capitalism as the world’s most common economic system.
Mercantilism was replaced by capitalism as the world's most common economic system after 1450.
To determine what happened to economic systems globally after 1450, we need to understand the historical context and consider the changes that occurred during this period. Rather than providing the answer directly, I will guide you on how to find the correct response.
1. Indentured servitude: This was a labor system in which individuals would work for a set period in exchange for their passage to a new country. While indentured servitude was prevalent during the 1600s and 1700s, it is not directly related to the question of global economic systems after 1450.
2. Capitalism: This economic system is characterized by private ownership of industries and businesses, along with the pursuit of profit. It is important to note that capitalism existed before 1450, particularly in regions such as Europe. However, to determine its prevalence after 1450 globally, you need to consider whether it became the most common economic system.
3. Mercantilism: This economic system emerged during the 16th and 17th centuries, characterized by state intervention in the economy to accumulate wealth through trade and colonialism. It was marked by government regulations and monopolies. Like capitalism, it's crucial to assess if mercantilism became the dominant economic system globally after 1450.
4. Highland Clearances: This term refers to the forced displacement of Scottish peasants from their ancestral lands during the 18th and 19th centuries. While it is a significant historical event, it is not relevant to determining the changes in global economic systems after 1450.
To find the correct answer, it would be helpful to research and analyze historical developments, such as the growth of global trade networks, the rise of nation-states, and the Industrial Revolution. These factors will provide insights into the most common economic systems and their changes after 1450.