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Businesses operate in a purely free market
A policy of not interfering.
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Which phrase best describes the economic policy of laissez-fairs?
A laissez-faire economic policy involves a minimum of government interference in business.
Which phrase best describes the economic policy of laissez- fairs?
A laissez-faire economic policy involves a minimum of government interference in business.
Why did the government adopt a laissez-fairs policy toward business during this time?
Because they liked to eat a big double meat burger
What did laissez- fairs supporters believe about the role of government in economic affairs?
Entrepreneurs
Economic policy by which the government minimizes its regulation of industry?
laissez-faire laissez-faire
What did Adam Smith believe would result from the combination of capitalism and a laissez-fairs policy?
a free market economyCapitalism is a system in which a nation's trade and industry are operated privately for profit by private owners, rather than by the government. Laissez-faire policy is that the government would abstain from interfering in the free market. Adam Smith believed that the combination of the two would result in free trade capitalism.
What is the Laissez-fire policy?
In a truly Laissez-fire economy, the government does not do anything related to the economy. There are probably no truly laissez-fire economies in the world.
What was one outcome of laissez-fairs economic policies?
Bad working conditions
What is the policy of laissez- faire?
Active government intervention
What is the main purpose of laissez faire policy?
To do nothing.
What is a laissez-faire policy?
Businesses operate in a purely free marketA policy of not interfering.
Is a laissez-faire policy?
Businesses operate in a purely free marketA policy of not interfering.
