WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
SECOND INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Minimal government interference and regulation in regards to business practices, would allow them to operate at maximum efficiency, which would strengthen the economy.
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Maximum government interference and regulation in regards to business practices, would allow them to operate at maximum efficiency, which would strengthen the economy.
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Minimal government interference and regulation in regards to Employees, would allow them to operate at maximum efficiency, which would strengthen the economy.
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Maximum government interference and regulation in regards to Employees, would allow them to operate at maximum efficiency, which would strengthen the economy.
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Detailed explanation-1: -Laissez-faire government policies helped the growth of American businesses by not putting regulations on them that would hamper their productivity and profitability.
Detailed explanation-2: -As a system of thought, laissez-faire rests on the following axioms: “the individual is the basic unit in society, i.e. the standard of measurement in social calculus; the individual has a natural right to freedom; and the physical order of nature is a harmonious and self-regulating system."
Detailed explanation-3: -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-4: -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.