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 equipment should be privately owned.
C)government should not interfere with the operation of the economy.
D)government action is necessary if the economy is to achieve full employment and full production.

Question

Quizplus · Accepted Answer

The term "laissez faire" means "let it be" or "leave it alone." It suggests that the government should not interfere with the operation of the economy, allowing businesses and individuals to compete freely without government regulation or intervention. This approach is often associated with free-market capitalism. Therefore, option C is the most appropriate choice. Options A and B do not accurately reflect the concept of laissez faire, and option D suggests government intervention, which is contrary to the laissez-faire approach.

The Term "Laissez Faire" Suggests That