MyQuestionIcon

2

You visited us 2 times! Enjoying our articles? Unlock Full Access!

Economy

As economists...

Question

As economists, we refer to the doctrine that holds that government should leave economic affairs primarily to the market as:

A

Capitalism

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Laissez-faire

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

C

Communism

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

Dormez-vous

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B Laissez-faire
Laissez-Faire is the French term for free trade. It is a system in which the government doesn't interfere much in the economy of the country and leaves its functioning to the market. Thus, Laissez-Faire is the right answer.

Suggest Corrections

thumbs-up

0

Similar questions

Q. When we specify that economists should not be concerned with whether the society should use its resources towards producing medicines or machine guns, we consider economics as _____________.

Q. When we specify that Economists should not be concerned with whether an Individual should use his income towards purchasing cigarettes or rice, we consider Economics as.

Q. The classical economists believed that the government can rescue the people in times of economic distortions through unbalanced budgets.

Q. Direction: A statement is given followed by three courses of action. A course of action is taken for improvement, follow-up etc. Read the statement carefully and pick the CORRECT answer choice.
Statement: The economic policies of the government are being criticized by some economists as being opposed to the concept of social equality.
Course of action:
I. Since capitalism and social evaluate can't go together, the government need not bother about such criticisms.
II. The government should evaluate such criticisms for any possible merit.
III.The economic policies should be changed in such a way that social equality is included in its objectives.

Q. The European Union (EU) is a politico-economic union of 28 member states that are located primarily in Europe. United Kingdom voted to exit the Union in June 2016, the exit being popularly referred to as 'Brexit'. When is the exit going to happen?

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

What is Economics?

CIVICS

Watch in App

explore_more_icon

Explore more

Standard VI Civics

Join BYJU'S Learning Program

CrossIcon