What the Nolan Chart's two axes represent is:
b. Personal economic freedom.
This chart, which was created by David Nolan in 1969, divides human political view into two axes: economic opinion and personal opinion, creating something similar to a Chartesian chart.
Those poltical parties on the right of the Chart, tend to favour more economic intervention in personal matters such as drug laws. On the other hand, those to the left, tend to favour more government control in economics. For instance, when governent establishes a minimum wage.