USA HISTORY

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 “hands-off approach” is used to explain a type of government under which government allows people to make their decision and government does not directly intervene in the market. The government that uses this approach is also known as Laissez-faire.

Detailed explanation-3: -Laissez-faire leaders have an attitude of trust and reliance on their employees. They don’t micromanage or get too involved, they don’t give too much instruction or guidance. Instead laissez-faire leaders let their employees use their creativity, resources, and experience to help them meet their goals.

Detailed explanation-4: -Laissez-faire means government needs to keep their hands off the economy. TRUE. An example of laissez-faire, is the government deciding what to produce and how to produce it.