HISTORY
THE INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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with ideas of a free-market economy governed by natural laws, not government regulations
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with ideas of an economy supported by tariffs on foreign goods
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with ideas that the elite had a responsibility to give to charities
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all choices ar Communism gives control of a country to its people and socialism all choices are correct
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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: -A laissez-faire economy gives businesses more space and autonomy from government rules and regulations that would make business activities harder and more difficult to proceed. Such an environment makes it more viable for companies to take risks and invest in the economy.
Detailed explanation-3: -The concept of laissez-faire in economics is a staple of free-market capitalism. The theory suggests that an economy is strongest when the government stays out of the economy entirely, letting market forces behave naturally.
Detailed explanation-4: -We know Adam Smith today as the father of laissez faire ("to leave alone") economics. This is the idea that government should leave the economy alone and not interfere with the “natural course” of free markets and free trade.
Detailed explanation-5: -Laissez-faire capitalists argued that competition benefited society in a number of ways, including: it lowered the price of goods and service as producers competed for the business of consumers, and it fostered innovation of goods and services as companies compete to outdo each other.