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.
Correct Answer:
Verified
Q2: The main mechanism that regulates the market
Q3: Property rights are important because they
A) ensure
Q4: The division of labor means that
A) labor
Q5: Examples of command economies are
A) the United
Q6: Competition means that
A) sellers can manipulate market
Q8: An economic system
A) requires a grouping of
Q9: Command systems are also known as
A) market
Q10: Which of the following is a fundamental
Q11: Of the following countries, which one best
Q12: Copyrights and trademarks are examples of
A) capital
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