Question

Explain the concept of ecnomic liberalism which developed in europe in the 18th century

Answer 1

Answer:

a. In the economic sphere, liberalism stood for the freedom of markets

and the abolition of state-imposed restriction on the movement of goods

and capital.

b. The idea of liberalism also favoured abolition of multiple currency

system

c. The system also supported common weight and measurement system

Answer 2

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The concept of ecnomic liberalism which developed in europe in the 18th century are

• it stood for freedom of markets and the abolition of state imposed restrictions on the movement of goods and capital.

• customs union or 'Zollverein' was formed in prussia, joined by most of the German States.

• the union abolished traiff barriers and reduced the number of currencies thirty to two