Laissez Faire economics was used by business leaders as a means to establish: A partnership between business leaders and government officials A system of free play in business as the government agreed not to interfere in the practices of business leaders Healthy relations between workers and business leaders A system of partnerships between business leaders and labor unions in order to bring peace to the state

A market economy gives businesses more room and autonomy from government rules and regulations that…

Answered: Laissez Faire economics was used by…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Laissez Faire economics was used by business leaders as a means to establish:

	A partnership between business leaders and government officials
	A system of free play in business as the government agreed not to interfere in the practices of business leaders
	Healthy relations between workers and business leaders
	A system of partnerships between business leaders and labor unions in order to bring peace to the state

Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.

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