When applied to an economic system,the term laissez-faire means that
A)the government makes the majority of economic decisions.
B)the government decides how resources should be allocated.
C)the government minimizes its activity in the economy.
D)the government maximizes its activity in the economy.

Question

Quizplus · Accepted Answer

Laissez-faire is a French term that means "let do" or "let it be." When applied to an economic system, it means that the government should minimize its activity in the economy and let the market operate freely without government intervention. Therefore, the best answer is C.

When Applied to an Economic System,the Term Laissez-Faire Means That