HISTORY
ABSOLUTISM AND REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which term describes the idea of the government’s “hands off” role in the economy?
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Macroeconomics
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Microeconomics
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Laissez-Faire
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Social Contract
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Explanation:
Detailed explanation-1: -Laissez-faire is a policy of minimum governmental interference in the economic affairs of individuals and society. The doctrine of laissez-faire is usually associated with the economists known as Physiocrats, who flourished in France from about 1756 to 1778. The term laissez-faire means, in French, “allow to do.”
Detailed explanation-2: -Also known as delegative leadership, it’s the direct opposite of autocratic leadership . With this leadership style, employees can use their skills and ideas to complete their tasks how they prefer, as long as their actions aren’t adversely affecting the company.
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