Which of the Following Would Best Describe a Policy of Laissez-Faire

question 107

Multiple Choice

Which of the following would best describe a policy of laissez-faire?

• A)More production of capital goods than consumer goods.
• B)More production of consumer goods than capital goods.
• C)An emphasis on the role of the market.
• D)An emphasis on the role of government.
• E)A reliance on custom.

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Definitions:

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price over a specified period.

Supply

The total amount of a specific good or service that is available to consumers.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a particular price over a given period of time.

Equilibrium Price

is the market price at which the quantity of goods supplied is equal to the quantity of goods demanded.