Hands off. No government intervention in business.

Hands off. No government intervention in business.

• A. Laissez-faire
• B. Hands-off Policy
• C. Free Market Approach
• D. Non-interventionism

Answer: (A)

Minimal government interference in business is best described by laissez-faire. This term captures the view that markets function best when the state steps back and private enterprises operate largely on their own, with prices and production guided by supply and demand rather than by government directives. The government’s role, in this view, is limited to protecting property rights, enforcing contracts, and maintaining a stable legal framework. The other phrases are less precise for this economic sense: a hands-off policy is a more general description, not the traditional economic label; a free market approach describes the system rather than a policy stance; and non-interventionism is typically used in foreign policy contexts rather than domestic economic policy.

Minimal government interference in business is best described by laissez-faire. This term captures the view that markets function best when the state steps back and private enterprises operate largely on their own, with prices and production guided by supply and demand rather than by government directives. The government’s role, in this view, is limited to protecting property rights, enforcing contracts, and maintaining a stable legal framework. The other phrases are less precise for this economic sense: a hands-off policy is a more general description, not the traditional economic label; a free market approach describes the system rather than a policy stance; and non-interventionism is typically used in foreign policy contexts rather than domestic economic policy.