Economic systems in the 18th century

In which economic system are businesses privately owned?

Capitalism involves government control of the economy, while mercantilism relies on minimal government intervention.

Adam Smith believed in free competition, where profit was made when producers competed with each other.

Under mercantilism, merchants played a more important political role than kings.

In capitalism, businesses are privately owned, contrasting with the state control seen in mercantilism.

Which economic system promotes strengthening a nation by expanding its trade?