Under laissez-faire, society's decisions about how much of every product to produce depend on
A)consumer preferences only.
B)production costs only.
C)consumer preferences and production costs.
D)neither consumer preferences nor production costs.

Question

Quizplus · Accepted Answer

Laissez-faire allows for market forces to determine the quantity of a product to be produced. This includes both consumer preferences and production costs, as businesses will naturally produce more of what consumers demand and what is cost-effective for them to produce. Therefore, both factors play a role in the decision-making process.

Under Laissez-Faire, Society's Decisions About How Much of Every Product