Which statement best describes laissez-faire economics?
Question:
Which statement best describes laissez-faire economics?
Choices:
- An economy in which the means of production are privately owned and operated with minimal government interference.
- An economy in which products are a direct result of the beliefs and customs of the society.
- An economy that's a mixture of a market and command economy.
- An economy in which governments play a significant role in regulating economic activity.
Answer:
An economy in which the means of production are privately owned and operated with minimal government interference.