Which economics doctrine opposes government regulation or interference in commerce beyond the minimum necessary for a free enterprise system to operate according to its own economics laws and non-interference in affairs of others ?
Correct answer: B. Laissez faire also Laisser faire
- A. Free market economy
- B. Laissez faire also Laisser faire
- C. Open market economy
- D. Liberal market economy
Explanation
Laissez-faire advocates minimal government interference in commerce, allowing prices and production to be guided mainly by market forces. The phrase literally conveys the idea of allowing economic activity to proceed freely.
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