In Which Type of Economic System Is the Laissez-Faire Philosophy

question 31

Multiple Choice

In which type of economic system is the laissez-faire philosophy rejected, and the central government acting as a representative of the people makes basic economic decisions?

• A) informal economy
• B) capitalism
• C) socialism
• D) agrarianism

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Definitions:

Employment Context

The environment and conditions under which individuals engage in work for employers, including all related legal, social, and economic factors.

Principle of Vicarious Liability

A legal doctrine that holds one person or entity legally responsible for the actions of another, such as an employer for the behaviors of their employees.

Employment Context

Pertains to the environment or circumstances surrounding an individual's job, including their roles, responsibilities, and the legal and organisational framework in which they work.

Employee Surveillance

The monitoring of employee activities and behaviors in the workplace by an employer, often for performance evaluation or security purposes.