Which of the following is true of the laissez-faire economic theories that were prevalent in the 19^th century? A) People in business were unable to limit or shift many of their economic risks by placing clauses in their contracts. B) The courts were unwilling to interfere with people's private agreements or to do anything that might interfere with the country's growing industrialization. C) These theories were never considered a part of the public policy in the 19^th century. D) People in business had to face a lot of restrictions while planning the kind of economy that increasing industrialization required.

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The 19^th century saw laissez-faire (free market) economic theories treated as a highly important part of public policy. The courts were unwilling to interfere with people's private agreements or to do anything that might interfere with the country's growing industrialization. "Freedom of contract" was the rule of the day. This "hands off" policy made contracts an ideal device for business.

Which of the Following Is True of the Laissez-Faire Economic