Practicing Success

Target Exam

CUET

Subject

Sociology

Chapter

Indian Society: Market as a social Institution

Question:

Who supported the idea of a "Free market" ?

(1) Adam smith

(2) E Durkheim

(3) K Marx

(4) M.N. Srinivas

Options:

2

3

4

Correct Answer:

Explanation:
Adam Smith supported the idea of a ‘free market’, that is, a market free from all kinds of regulation whether by the state or otherwise. This economic philosophy was also given the name laissez-faire, a French phrase that means ‘leave alone’ or ‘let it be’.