Answer: Pin factory
Explanation:
He gave the example of a pin factory based on his real-life observations. One worker who did all the operations necessary to make a single pin, he said, could produce no more than 20 in one day. Ten workers could make 200 pins this way.
The correct option is (C). A government is Laissez-faire when it does not interfere in business affairs and does not regulate its actions.
Further Explanation:
Laissez-Faire:
The theory of Laissez-faire in the 18th century. It states that the government should not intervene in the business affairs of the country. All the business activities should be carried out independently to the government restrictions and involvement. Laissez-faire is a French word which means leave alone. Therefore, this theory supports the idea of free-flow of business activities in the economy.
This theory states that the interaction of the government blocks the creativity of the business so, in Laissez-faire economy, the interference would be free to form an entity and take actions freely without the of the government.
Thus, a government is Laissez-faire when it does not interfere in business affairs and does not regulate its actions.
Justification for the correct and incorrect option:
A.
Fairly regulates workers: This is an incorrect option.
In Laissez-faire, the government does not interfere in the actions of the business. Therefore, it does not regulate the workers.
B.
Fairly regulates businesses: This is an incorrect option.
In Laissez-faire, the government does not interfere in the actions of the business.
C.
Does not interfere with business affairs and does not regulate its actions: This is the correct option. In Laissez-faire, the government does not interfere in the actions of the business. Therefore, it does not regulate the actions of the business.
D.
Leaves workers alone and doesn’t regulate unions: This is an incorrect option.
The government does not interfere in any activity of the business.
Learn more:
1. Learn more about the command economy
2. Learn more about the lawmaking process
3. Learn more about the social reforms
Answer details:
Grade: Senior School
Subject: Economics
Chapter: Types of Economics
Keywords: Government, laissez-faire, fairly, regulates, workers, businesses, .does not interfere, with business affairs, regulate actions, leaves, workers, alone, doesn’t, regulate, union.
A government is laissez-faire when it does not interfere with business affairs and does not regulate its actions
Further Explanation
Laissez-faire is an economic theory that resists any form of government interference in business affairs. It uses the principle that the less involvement of the government in the economy the more successful it can become, leading to the success of society as a whole. Free market capitalism is based on this Laissez-faire philosophy.
The following are the common types of legislation Laissez-faire economists oppose:
• minimum wages
• duties
• trade restrictions
• corporate taxes
Effects of Laissez-faire in the society
While Laissez-faire was implemented in the late 18th and early 19th century it was also noticed that it resulted in large gaps between the wealthy and the poor, unsafe working conditions for the workers and starvation.
Government Intervention
In the beginning of the 20th century significant government controls and regulations were implemented with the goal of protecting workers from unsafe working conditions and to protect consumers from unfair trading practices.
Criticism of Laissez-Faire
Critics of Laissez-faire targeted the moral ambiguities that is attached to capitalism as a system, to which, it does not inherently protect the lowest in the society. As an argument, advocates believe that when individuals pursue their interest first, the benefits will follow. However, for the detractors, Laissez-fair only leads to economic imbalances and poverty.
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Keywords: laissez-faire, economics, government
True
False
B) World War I.
C) Vietnam War.
D) Korean War
Answer:
C) Vietnam War.
Explanation:
The war in Vietnam was a war fought between 1955 and 1975 to prevent the reunification of Vietnam under a socialist or communist government. In this war the Republic of Vietnam (South Vietnam) participated, which was against the communists, with the support of the United States and other allied nations of the United States against the local guerrillas of the National Front for the Liberation of Vietnam ( Viet Cong) and the Army of the Democratic Republic of Vietnam (North Vietnam), backed by China and the Soviet Union. It is estimated that between 3.8 and 5.7 million people died in total. The United States counted 58 159 casualties and more than 1,700 disappeared, constituting the longest conflict in that country until the Civil War in Afghanistan.
Answer: D
Explanation:
The object that best serves as a symbol of an Indian woman's suhag is sindoor. Sindoor is a red powder that is applied on the parting of a married Indian woman's hair.
The object that best serves as a symbol of an Indian woman's suhag is sindoor. Sindoor is a red powder that is applied on the parting of a married Indian woman's hair. It is considered a symbol of marriage and is worn by married women in Hindu culture.
The other objects mentioned also hold cultural and symbolic significance in Indian culture:
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