Terms
Scientific Method= A method of procedure that has characterized natural science since the 17th century consisting in systematic observation.
Philosophe= Philosophes were the intellectuals of the 18th century Enlightenment.
Physiocrat= A member of an 18th century group of French economists that believed that agriculture was the source of all wealth.
Mercantilism= Belief in the benefits of profitable trading, commercialism.
Free Market= An economic system in which prices are determined by unrestricted competition between privately owned businesses.
Philosophe= Philosophes were the intellectuals of the 18th century Enlightenment.
Physiocrat= A member of an 18th century group of French economists that believed that agriculture was the source of all wealth.
Mercantilism= Belief in the benefits of profitable trading, commercialism.
Free Market= An economic system in which prices are determined by unrestricted competition between privately owned businesses.