Please help its due TODAY 2. Explain the theory of capitalism as defined by Adam Smith, including the factors of supply and demand. How does capitalism contrast with the mercantilist system pursued by European countries during the Age of Exploration? (5 points)

Explanation:

On March 9, 1776, "An Inquiry into the Nature and Causes of the Wealth of Nations"—commonly referred to simply as "The Wealth of Nations"—was first published.1 Smith, a Scottish moral philosopher by trade, wrote the book to describe the industrialized capitalist system that was upending the mercantilist system. Mercantilism held that wealth was fixed and finite, and that the only way to prosper was to hoard gold and tariff products from abroad. According to this theory, nations should sell their goods to other countries while buying nothing in return. Predictably, countries fell into rounds of retaliatory tariffs that choked off international trade.

Adam Smith argued against mercantilism, which at that time was a main component of capitalism. Mercantilism is an idea that heavily promotes government involvement in trade and business, as opposed to allowing merchants and business people to keep track of themselves. This was fundamentally opposed to the idea of capitalism, which is that the free market is allowed to govern themselves, in accordance with laws. He proposed an invisible hand idea, which would allow free markets to regulate themselves through the ideas of competition, and supply and demand.

Explanation:

question: write a report analyzing through articles of confederation.

answer: the articles of confederation the united states constitution was written when the people feared strong government the new nation needed some kind of organization to hold states together to them fend off future attacks and make a stronger support system through the states and people the states bonded through a friendship that best served as a defense against a invasion and states were not allowed to use taxes as a way to discourage treaties, and states were extremely limited in their dealings with foreign nations the strengths were that the congress has the highest power in the nation because of   fear of monarchy congress had the sole power to declare war and assign treaties disputes between states and territorial issues were to be brought to congress and weaknesses were the lack of power given to congress the articles gave congress the power to pass laws but no power to enforce those laws if a state did not support a federal law that state could simply ignore it congress had no power to levy taxes or regulate trade.

explanation: so like every argument they have strengths and weaknesses but in this case there were more weaknesses but they managed o get through it and make an agreement

question answered by

(jacemorris04)

yes he can but hardly

explanation: