Classic Laissez-Faire Theory Is Based on the Idea That

question 87

Multiple Choice

Classic laissez-faire theory is based on the idea that

• A)government monopolies stimulate economic growth.
• B)self-interest does nothing to promote the public good.
• C)a truly efficient government allows private enterprise to provide all government services.
• D)economic competition unleashes growth and innovation.

---

Definitions:

Partnership Agreement

A contract between partners in a business that outlines the terms of the partnership, including responsibilities, profit distribution, and conflict resolution.

Utmost Good Faith

A legal doctrine requiring parties in certain agreements, particularly in insurance contracts, to act honestly and disclose all relevant facts to each other.

Weekend Selling Activity

Commerce or sales transactions specifically conducted over the weekend period, potentially targeting leisure shoppers.

Customer Orientation

A business approach that prioritizes understanding and meeting the actual needs of customers.