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laissez-faire economics is one of the guiding principles of capitalism, this doctrine claims that an economic system should be free from government intervention or moderation, and be driven only by the market forces. Centered on the belief (termed invisible hand by the 18th century Scottish economist Adam Smith) that human beings are naturally motivated by self-interest and, when they are not interfered-with in their economic activities, a balanced system of production and exchange based on mutual benefit emerges....
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoLaissez-faire is an expression used to describe a government's attitude. It translates as 'let make' - so it really means just let them get on with it.
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What is ceterius paribus?
Ceterius paribus is commonly used economics term meaning "all things being equal". It used to simply economic analysis. Ceterius paribus is commonly used economics term meaning "all things being equal". It used to simply economic analysis.
What is the plural for economics?
Economics is a collective term. It is used in the singular.
What would a laissezfaire policy regarding drugs involve?
no government regulation
The term micro economics and macro economics were coined by?
Ragner Frisch.
Who coined the term micro economics and macro economics?
not sure but i guess" J.M Keynes".
What is ceterius paribus?
Ceterius paribus is commonly used economics term meaning "all things being equal". It used to simply economic analysis. Ceterius paribus is commonly used economics term meaning "all things being equal". It used to simply economic analysis.
What is the plural for economics?
Economics is a collective term. It is used in the singular.
What would a laissezfaire policy regarding drugs involve?
no government regulation
What did laissezfaire supporters believe about the role of government in economic affairs?
Entrepreneurs
The term micro economics and macro economics were coined by?
Ragner Frisch.
What is an isquant in economics?
Is the term used in economics which means Indifferent curves.
Who coined the term micro economics and macro economics?
not sure but i guess" J.M Keynes".
What is the meaning and uses of land in economics?
land in economics mean all natural resources
What are the 5 divisions of economics and their meaning?
The five major divisions of economics are:ConsumptionDistributionExchangeProductionPublic Finance
Provide a diffinition of the term economic?
provide a definition of the term economics
What are some of the basic principles of business economics?
The term business economics is used in different ways. Sometimes it is used synonymously with industrial economics/industrial organization, managerial economics, and economics for business.
Who coined the term Economics?
Alfred Marshall
