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Question
The term "laissez faire" is associated with ___________.
The term "laissez faire" is associated with ___________.
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Solution
The correct option is A capitalism
The term
"laissez faire" is associated with capitalist economy. "laissez
faire" means ‘let you do’, ‘leave alone’. Thus in the capitalist economy,
the prices are determined by the free interaction of the forces of demand and
supply. It is an automatic self-regulating mechanism which runs with the motive
of profit.
The term "laissez faire" is associated with capitalist economy. "laissez faire" means ‘let you do’, ‘leave alone’. Thus in the capitalist economy, the prices are determined by the free interaction of the forces of demand and supply. It is an automatic self-regulating mechanism which runs with the motive of profit.
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