When economists use the term "laissez-faire," what economic idea are they referring to?
A. Government plays an important role in regulating the economy.
B. Individuals are inefficient at making sound economic decisions.
C. Government should not interfere with business practices.
D. Individuals cannot independently run large corporations.

When economists use the term "laissez-faire," they are referring to the economic idea that "C. Government should not interfere with business practices", since this implies a "hands off" approach to the economy.

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emilyadalex emilyadalex · Answer 2 · 2019-01-15T19:30:43+01:00

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

The french term "Laissez-faire" is translated as "Let go" or "Allow to pass" in English. In economics, it refers to the doctrine of letting business do their thing, more broadly, it advocates that all business practices should be free from any government intervention or moderation, and be driven only by the market forces, this way they can prosper, and by extension society too. Laissez-faire economics are a key part of capitalism.