ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following best describes the Laissez-Faire approach to the economy?
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Hands Off (leave it alone)
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Extreme Control
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Trust the Government
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Strong regulations on businesses
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Explanation:
Detailed explanation-1: -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-2: -Laissez-faire is the belief that economies and businesses function best when there is no interference by the government.
Detailed explanation-3: -Laissez-faire leadership, also known as delegative leadership, is a type of leadership style in which leaders are hands-off and allow group members to make the decisions.
There is 1 question to complete.