What Is the Term for the Economic Doctrine That Holds

question 141

Multiple Choice

What is the term for the economic doctrine that holds that an economy works best with the minimum amount of government intervention?

• A)Perfect competition.
• B)Productive efficiency.
• C)Producers' preferences.
• D)Laissez-faire.

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Definitions:

Automobile Industry

The global industry involved in the design, development, manufacturing, marketing, and selling of motor vehicles.

Cost-Leadership Strategy

A competitive strategy focusing on producing goods or services at the lowest cost to outprice competitors.

Differentiation Strategy

A generic business strategy that requires products to have significant points of difference to charge a higher price while targeting a broad array of market segments.

Significant Points

Major or important aspects, factors, or considerations in a given context, such as key arguments in a discussion or essential features of a project.