SSC
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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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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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: -The term Laissez-faire is of French origin and translates to “letting people do as they choose.” This leadership style is the complete opposite of micromanaging. Laissez-faire leaders allow their followers to have the autonomy to make their own decisions and manage their own desks.
Detailed explanation-3: -Laissez-faire is the belief that economies and businesses function best when there is no interference by the government. It comes from the French, meaning to leave alone or to allow to do.