Commercial capitalism

M.A History

First Year Courses

Assignments

For July 2015 and January 2016

Sessions

MHI-02: MODERN WORLD

Course Code: MHI-02

Assignment Code: MHI-02/AST/TMA/2015-16

Total Marks: 100

Q5:- Write short notes on any two of the following in about 250 words each.

iv. Commercial capitalism

Capitalism is an economic system in which the means of production are privately owned and operated for a private profit; decisions regarding supply, demand, price, distribution, and investments are made by private actors in the market rather than by central planning by the government; profit is distributed to owners who invest in businesses, and wages are paid to workers employed by businesses and companies. 

Commercial capitalism is another word for mercantilism. Mercantilism suggests that the ruling government should advance its goals by playing a protectionist role in the economy and encouraging exports and discouraging imports, notably through the use of subsidies and tariffs respectively. The assumption was that trade is a zero sum game.

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