Question

When economists use the term "laissez-faire," what economic idea are they referring to? Selected: a. Government plays an important role in regulating the economy.This answer is incorrect. b. Individuals are inefficient at making sound economic decisions. c. Government should not interfere with business practices. d. Individuals cannot independently run large corporations.

Answer 1

Answer: C

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Answer 2

The answer is C) Government should not interfere with business practices

Laissez faire literally translates to "let them do". The idea is that the economy runs best when the free market determines prices and output, and that the government should stay out to the greatest extent possible.