With which form of economy is the term 'Laissez-faire' associated?

Capitalist economy

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Socialist economy

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Mixed economy

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Command economy

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Solution

The correct option is B Capitalist economy
Capitalist economy(where capital goods are owned by private individuals) follows a 'Laissez-faire' economy. The production of goods and services are determined by the free play of demand and supply forces in the market.It is also known as market economy. US is an example of a capitalist economy.

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Similar questions

Q27. The term “Laissez-faire” associated with capitalist economy connotes

i) Free market

ii) Non-intervention by the government

iii) Intervention by the government

iv) None of the above

which of the above statements is/are true

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