Laissez-faire is an economic environment in which transactions between private parties are largely free from government restrictions. Choose THREE characteristics that best exemplify laissez-faire economics: (a) Deregulation (b) Labor Laws (c) Building Codes (d) Free Trade (e) Antitrust Laws (f) Non-Interference

Laissez-faire is an economic environment where transactions between private parties are mostly free from government restrictions. In such a system, minimal regulations and interventions are present, allowing private entities to freely engage in economic activities.

(a) Deregulation: This is the process of removing or reducing regulations, allowing for more freedom in economic activities. This is a characteristic of a laissez-faire economy, as it emphasizes minimal government intervention. (b) Labor Laws: Labor laws are government regulations that protect workers' rights and promote workplace safety. While some labor laws exist in a laissez-faire economy, they do not exemplify minimal government intervention, which is the defining characteristic of laissez-faire economics. (c) Building Codes: Building codes are regulations governing the construction and maintenance of buildings. These codes ensure safety and health standards. Like labor laws, building codes are necessary for public safety but do not exemplify a laissez-faire economy since they involve government intervention. (d) Free Trade: Free trade allows businesses to operate in an environment free of tariffs, quotas, and other trade barriers. This promotes international trade and competition and is a characteristic of laissez-faire economics due to the minimal government intervention. (e) Antitrust Laws: Antitrust laws are government regulations that prevent a single entity from controlling an entire industry and prevent unfair business practices. While antitrust laws aim to promote competition, they are a form of government intervention. Thus, they do not exemplify laissez-faire economics. (f) Non-Interference: This refers to the government not interfering in economic activities between private parties. Non-interference is a core tenet of laissez-faire economics, as it promotes minimal government intervention.

By analyzing the given options, we determine that the following THREE characteristics best exemplify laissez-faire economics: 1. Deregulation (a) 2. Free Trade (d) 3. Non-Interference (f)