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10 June, 17:35

14. Explain why a free market and laissez-faire are opposites of socialism. (free market,

laissez-faire, socialism)

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Answers (1)
  1. 10 June, 18:54
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    Free market and laissez-faire are opposite for socialism as this type of market is free from the government control.

    Explanation:

    The free market and laissez-faire are the type of market in which government has no control. The decision of what t produce, how to produce, how much to produce and other decisions like price are decided by the producers itself only.

    This type of market is opposite for socialism as the motive of this market is to profit maximization and not social welfare as it is out of from government control.
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