Question

Scenario: The economy of Country Y has been in an economic downturn for the last several months. Recently, businesses have invested in new technologies in order to produce the goods that consumers are

asked Aug 3, 2020 26.8k views

Scenario:

The economy of Country Y has been in an economic downturn for the last several months. Recently, businesses have invested in new technologies in order to produce the goods that consumers are demanding within the nation's own borders. The government has removed regulations to allow producers and consumers to have more financial freedom. As a result, consumer spending has increased and the economy has begun to improve.

Use the drop-down menus to complete the sentences. According to the information presented about Country Y, the classical economic concept of _______ ( the invisible hand, consumer efficiency, government regulations) can be seen. The economic events of Country Y demonstrate the idea of laissez faire because the government ______ (Did, Did not) intervene in economic events.