GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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what is ‘Laiseez-faire’?
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Mixed economy
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controlled economy
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Non-interference of Government in economic affairs
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None of these
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Explanation:
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: -Also called: individualism the doctrine of unrestricted freedom in commerce, esp for private interests. (as modifier)a laissez-faire economy.
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