ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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hands off (left alone, let it be)
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Extreme Control
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Trusting the government
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A mix of control and hands off
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Detailed explanation-1: -Laissez-faire is an economic philosophy of free-market capitalism that opposes government intervention. The theory of laissez-faire was developed by the French Physiocrats during the 18th century. Laissez-faire advocates that economic success is inhibited when governments are involved in business and markets.
Detailed explanation-2: -Laissez-faire economics is a theory that says the government should not intervene in the economy except to protect individuals’ inalienable rights. In other words, let the market do its own thing. If left alone, the laws of supply and demand will efficiently direct the production of goods and services.
Detailed explanation-3: -laissez-faire Add to list Share. Laissez-faire means “leave it alone.” Usually it describes the economic policy of a government that stresses non-interference in business.
Detailed explanation-4: -Laissez-faire examples Based on laissez-faire policy, it allowed private businesses to make as much money as possible without intervention in the idea that this wealth would trickle down to individuals. Tax cuts: When governments cut taxes to stimulate the market, this is based on laissez-faire theory as well.