Asked by Bridger Johnson on Apr 25, 2024
Verified
The term "laissez-faire" suggests that:
A) land and other natural resources should be privately owned,but capital should be publicly owned.
B) land and other natural resources should be publicly owned,but capital should be privately owned.
C) government should not interfere with the operation of the economy.
D) government action is absolutely necessary if the economy is to achieve full employment and full production.
Laissez-faire
An economic principle advocating minimal governmental interference in the operation of markets and businesses.
Government Intervention
Actions taken by the government to influence economic or social outcomes, such as regulations, subsidies, taxes, or direct control of markets.
- Outline the features and repercussions of laissez-faire capitalism along with centrally planned economies.
Verified Answer
AS
Ayush Savani8 days ago
Final Answer :
C
Explanation :
The term "laissez-faire" is French for "let do" or "let them do." In an economic context, it means that the government should not interfere with the operation of the economy. Therefore, choice C is the best option.
Learning Objectives
- Outline the features and repercussions of laissez-faire capitalism along with centrally planned economies.