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Economics: MCQ Objective Questions
With which form of economy is the term 'Laissez-faire' associated?(A). Capitalist Economy ✅
(B). Socialist Economy
(C). Mixed Economy
(D). Command Economy
Detailed Explanation - Economics MCQ
◾Capitalism is an economic system in which private individuals or businesses own capital goods.
◾In economics, laissez-faire means allowing industry to be free of state intervention, especially restrictions in the form of tariffs and government monopolies.
◾It comes from the French, meaning to leave alone or to allow to do. It is the guiding principle of capitalism and a free market economy.
