The text attributes the growth of economies over the last 200 years largely to: A. the development of markets. B. the discovery of additional resources. C. a decrease in the size of the world population. D. laissez-faire policies.

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Business

Iliana Smith

20 July, 10:24

The text attributes the growth of economies over the last 200 years largely to: A. the development of markets. B. the discovery of additional resources. C. a decrease in the size of the world population. D. laissez-faire policies.

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Answers (1)

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Cheyanne Randall · Answer 1

The correct answer is A. The text attributes the growth of economies over the last 200 years largely to the development of markets.

Explanation:

From the 18th century onwards, a series of diverse currents of political and economic thought emerged in Europe, encompassing what is now called liberalism. This trend came to recompose the errors of mercantilism, by stimulating trade without barriers, the generation of new financial markets, the development of banking and the world economic interconnection. This process, which continued to develop until today and was one of the origins of globalization, fostered world economic development through trade, and generated many countries until then underdeveloped to boost economies and local industries to meet the demands from foreign markets.