Limited government interference with business; the strong survive

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Study for the US History STAAR End-of-Course Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

Multiple Choice

Limited government interference with business; the strong survive

Explanation:
Laissez-faire capitalism is the idea that the government should interfere with business as little as possible, letting markets determine prices, production, and innovation through competition. In this view, firms succeed or fail based on efficiency and demand, so the strongest or most efficient survive. This contrasts with mercantilism, where the state heavily regulates trade and wealth accumulation, and with socialism or communism, where the government owns or controls the means of production. The phrase “the strong survive” captures the belief that free competition rewards efficiency and innovation rather than relying on government protection or planning.

Laissez-faire capitalism is the idea that the government should interfere with business as little as possible, letting markets determine prices, production, and innovation through competition. In this view, firms succeed or fail based on efficiency and demand, so the strongest or most efficient survive. This contrasts with mercantilism, where the state heavily regulates trade and wealth accumulation, and with socialism or communism, where the government owns or controls the means of production. The phrase “the strong survive” captures the belief that free competition rewards efficiency and innovation rather than relying on government protection or planning.

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