GK
WORLD HISTORY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the state should not impose higher prices on food
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the state should not impose government regulations but should leave the economy alone
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the state should not create new laws
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a blank mind
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Detailed explanation-1: -The driving principle behind laissez-faire, a French term that translates to “leave alone” (literally, “let you do"), is that the less the government is involved in the economy, the better off business will be, and by extension, society as a whole. Laissez-faire economics is a key part of free-market capitalism.
Detailed explanation-2: -Laissez faire works best for economic growth because it provides individuals with the greatest incentive to create wealth. Under laissez-faire capitalism, you cannot wrap a robe around you, put a crown on your head, and demand that people give you money.
Detailed explanation-3: -Then read our article on “Trade Barriers, ‘’ which will help you out! Another example of laissez faire economics is removing the minimum wage. Laissez faire economics suggests that no country should impose a minimum wage. Instead, the wage should be determined by the interaction of demand and supply for labor.