The belief that the freedom to determine prices and competition without the interference of the government or the guilds would result in the best economic outcome is:

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Laissez-faire economics promotes a free market system with minimal government intervention, allowing for private companies to operate with the least amount of regulation possible. It is the opposite of a command economy, which is when the government has complete control over the economy. Traditional economics is a broader term that encompasses different economic theories from different eras, while a mixed economy combines elements of both free market and government intervention.

The Belief That the Freedom to Determine Prices and Competition