Which intellectual movement most significantly influenced the development of concepts underlying the market economic system?

• A. The Romantic Movement
• B. The Enlightenment
• C. The Industrial Revolution
• D. The Renaissance

Answer: (B)

Verified step by step guidance

1. Identify the key intellectual movements listed: The Romantic Movement, The Enlightenment, The Industrial Revolution, and The Renaissance.
2. Understand the characteristics of each movement: The Enlightenment emphasized reason, individualism, and scientific thought, which are foundational to economic theories about markets and individual decision-making.
3. Recognize that the market economic system is based on ideas such as rational choice, individual rights, and the role of self-interest, all of which were developed during the Enlightenment period.
4. Compare the other movements: The Romantic Movement focused on emotion and nature, the Industrial Revolution was a technological and economic change but not primarily intellectual, and the Renaissance was about art and humanism but less about economic theory.
5. Conclude that the Enlightenment most significantly influenced the development of concepts underlying the market economic system due to its emphasis on reason, individualism, and scientific inquiry.