What economic philosophy is attributed to Petty?
Keynesianism
Communism
Laissez-faire
Mercantilism
Answer
Laissez-faire, the economic philosophy attributed to Petty, advocates minimal government intervention in the economy. It promotes free markets, unrestricted trade, and limited government regulations, believing that natural economic forces will regulate the market and ensure optimal outcomes. This philosophy emphasizes individual liberty, competition, and the self-regulating nature of economic systems.
Mastering Mercantilism: The William Petty Challenge
Related Quizzes
Subscribe Now!
Learn something
new everyday
Playing quizzes is free! We send 1 quiz every week to your inbox