The doctrine of laissez faire is based on the belief that
A)Markets are likely to do a better job of allocating resources than government directives.
B)Government directives are likely to do a better job of allocating resources than markets.
C)Government failure does not exist.
D)Markets result in an unfair distribution of income.

Question

Quizplus · Accepted Answer

The doctrine of laissez faire advocates for minimal government intervention in the economy, believing that markets will naturally allocate resources efficiently without government intervention. It assumes that individuals and businesses acting in their own self-interest will lead to the best outcome for the economy as a whole.

The Doctrine of Laissez Faire Is Based on the Belief