Question

when economists use the term \laissez - faire,\ what economic idea are they referring to?
a. government plays an important role in regulating the economy
b. individuals are inefficient at making sound economic decisions
c. government should not interfere with business practices
d. individuals cannot independently run large corporations

Explanation:

The term "laissez - faire" in economics refers to the idea that the government should have a hands - off approach in economic affairs, meaning it should not interfere with business practices. Option A suggests the government has an important regulatory role, which is the opposite of laissez - faire. Option B is about individual inefficiency in economic decision - making, which is not related to the concept of laissez - faire. Option D is about individuals running corporations, which is not the meaning of laissez - faire. Only option C aligns with the definition of laissez - faire as it advocates for the government not interfering with business practices.

Answer:

C. Government should not interfere with business practices