Which of the following best describes the concept of laissez-faire?
A) Government should NOT intervene in the economy.
B) Government should actively intervene in the economy whenever it judges the action to be beneficial.
C) Government should intervene in the economy only to promote short-term economic stability.
D) Government should intervene in the economy only to maximize long-term growth rates.

Question

Which of the following best describes the concept of laissez-faire?  
A) Government should NOT intervene in the economy. 
B) Government should actively intervene in the economy whenever it judges the action to be beneficial. 
C) Government should intervene in the economy only to promote short-term economic stability. 
D) Government should intervene in the economy only to maximize long-term growth rates.

Quizplus · Accepted Answer

Laissez-faire is a French term that translates to "leave alone," and it refers to the concept that government should NOT intervene in the economy. This means that businesses should be allowed to operate freely, without government regulations or interference.

Which of the Following Best Describes the Concept of Laissez-Faire