In this course, it has been claimed that markets only emerged historically alongside capitalism as a social system.Group of answer choicesTrueFalse

The statement that markets only emerged historically alongside capitalism as a social system can be viewed through various perspectives in economic history and social theory.

Historically, markets have existed in different forms long before capitalism. Ancient societies, such as those in Mesopotamia, engaged in trade and had barter systems. These early forms of markets operated independently of the capitalist framework that developed much later in human history, around the 16th century with the rise of mercantilism and expanding trade networks.

Capitalism, characterized by private ownership and the free market economy, brought significant changes to how markets function, particularly through the influence of supply and demand, profit motives, and consumer behavior.

Therefore, the accurate answer to the statement would lean towards "False." Markets have existed prior to the establishment of capitalism, though their nature and functioning certainly evolved with the emergence of capitalist economies.