Asked by Matthew Vulku on Jun 08, 2024
Verified
Law mercantilism is a complex,adaptive system of overlapping economic agents that operates on the basis of competition and a regulated market that responds to the movement of supply and demand.
Adaptive System
A system that is capable of adjusting its behavior or structure based on changes in its environment or internal state.
Regulated Market
A market that is controlled or supervised by rules and laws designed to protect consumers and fair competition.
- Apprehend the chronological context and progression of commercial law, including the assimilation of mercantile law into national legal statutes.
Verified Answer
CJ
Claire JonesJun 10, 2024
Final Answer :
False
Explanation :
Mercantilism is an economic policy that emphasizes national economic self-sufficiency and export-led growth, relying on a favorable balance of trade, rather than a system of competition and market regulation responding to supply and demand.
Learning Objectives
- Apprehend the chronological context and progression of commercial law, including the assimilation of mercantile law into national legal statutes.