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20-10-2020
Social Studies

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The demand for wheat has increased recently. Farmers have decided to charge more for wheat. The government does not get involved. What type of economic system is being described?

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20-10-2020

Answer: Laissez-Faire, Capitalism, Free-Markets, all those kinds of words

Explanation: When prices rise and the government (rather wisely in my humble opinion) decides to not get involved, they are taking a hands-off approach, which is reminiscent of laissez-faire

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