Question

Jeff son believed in ____ . This was the idea promoted by the economist Adam Smith explaining that the economy of the nation should have little no intervention by the government

A) socialism

B) iaissez faire

C) capitalism

D) controllerd markets

E) incorporation

Answer 1

B) iaissez faire

Step-by-step explanation:

Iaissez faire is a French term that means "let it be" or "leave it alone." It is a philosophy that advocates for minimal government intervention in the economy and maximum individual freedom. This philosophy was promoted by Adam Smith and other classical liberal economists, who argued that the economy would be most efficient and productive if individuals were free to make their own economic decisions without interference from the government. In contrast, socialism is an economic system in which the means of production are owned and controlled by the state, and capitalism is an economic system in which private individuals own and control the means of production. Controlled markets refer to an economic system in which the government plays a more active role in regulating the economy and may set prices or limit competition. Incorporation refers to the process of legally creating a corporation or business entity.