Category: Economics

Difference between Mercantilism and Capitalism

As similar as the two may be in terms of wealth accumulation, both economic systems have several differences that significantly distinguish one from the other. Summary Table Mercantilism Capitalism Accumulate wealth for the country with...

Difference between GDP and GNP

We often see the terms “GDP” and “GNP” on the news or on the paper, but many of us still do not know what they mean or what their difference is. Sure, they were taught...