Mercantilism is where we could only trade with the mother country. Britain would not let us trade with anybody else but them. Free Enterprise was whenever we could trade with whoever we wanted to. We could make deals with other countries and did not only have to trade with Great Britain. Laissez Faire is where the government could not interfere with what people did. They could buy what they want and own what they wanted to.
Before the Revolutainary war