Question

What led to the rise of a capitalist economic system in India?​

Answer 1

Answer:

A primary cause of the shift away from feudalism was increased foreign trade, which led to the emergence of a new class of merchant capitalist. These new merchants amassed great fortunes by purchasing foreign goods cheaply and selling them on at huge profits to Europe's aristocracy

Explanation:

Capitalism is the dominant economic system because the concept of private property and freedom to pursue economic choices are deeply embedded in human nature. Also, alternatives based on co-operation, sharing and state control have many flaws and limitations making capitalism least worst option for many.

Definition of capitalism

Answer 2

A primary cause of the shift away from feudalism was increased foreign trade, which led to the emergence of a new class of merchant capitalist. These new merchants amassed great fortunes by purchasing foreign goods cheaply and selling them on at huge profits to Europe's aristocracy.

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