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- Basic of Economicseconomics-mcqs › basic-of-economics
- Published
- 26 May 2019
- Last updated
- 28 May 2026
In economic theory, what concepts are encompassed by the term 'Liberalism'?
Multiple choice question for Basic of Economics. Select an option, then review the explanation below.
Explanation
Liberalism in economics includes ideas such as free markets, adherence to the gold standard, and the principle of laissez-faire, which advocates for limited government interference. Therefore, all these concepts are part of economic liberalism.
More Basic of Economics MCQs
Practice related questions from the same subject.
- 1.Which of the following best describes deflation?
- 2.Under what condition can two nations benefit from engaging in international trade?
- 3.Which of the following represents a legitimate form of currency?
- 4.Which political ideology is best summarized by the phrase, "From each according to his ability, to each according to his needs"?
- 5.Which type of currency experiences a decline in its exchange rate due to a continuous balance of payments deficit?