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Describe the changing relationship between the federal government and private business, including the growth of free enterprise and costs and benefits of laissez-faire.
Describe the changing relationship between the federal government and private business, including the growth of free enterprise and costs and benefits of laissez-faire.
The Free Enterprise system (Capitalism) encouraged entrepreneurs to develop new industries and expand them.
Laissez-faire(LAZY) suggests that individual freedom from government mandates exists in economic conduct.
Costs: limiting government control reduces regulation and corruption
Benefits: allows the market to govern itself, based on supply and demand
ESSENTIAL QUESTIONS ON 15B:
ESSENTIAL QUESTIONS ON 15B:
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