Asked by
abigail ebere
on Nov 25, 2024Verified
Laissez-faire capitalism is characterized by
A) a very limited government role in the economy.
B) active government intervention in the economy.
C) individuals and firms abiding by a government economic plan.
D) the economic system of the United States today.
Laissez-Faire Capitalism
An economic system where private parties are free from government intervention in the production and distribution of goods and services, barring basic regulations.
Government Role
The range of activities undertaken by the government to regulate, supervise, and participate in the economy, including legislation, taxation, and public services.
- Explore the properties and effects linked to different market mechanisms.
Verified Answer
EA
Learning Objectives
- Explore the properties and effects linked to different market mechanisms.