TCanadian businesses and citizens have a lot of economic freedom because the government has a ________________ role in the economy. (1 point) Responses substantial substantial unlimited unlimited limited limited controlling
limited
Canadian businesses and citizens have a lot of economic freedom because the government has a limited role in the economy.
To arrive at this answer, we can examine the concept of economic freedom. Economic freedom refers to the ability of individuals and businesses to make choices in their economic activities without significant interference or control from the government.
In a country with a limited role for the government in the economy, individuals and businesses have the freedom to engage in economic activities such as starting and operating businesses, making investment decisions, and participating in market transactions without excessive government intervention. The government's role is primarily focused on creating a favorable environment for economic activities through the establishment and enforcement of regulations and frameworks that protect property rights, ensure fair competition, and provide public goods and services.
Contrastingly, if the government had a substantial or controlling role in the economy, it would mean that it exercises significant control over economic activities. This could involve extensive regulations, government ownership or control of industries, central planning, or restrictions on trade or private ownership.
Given that the question states that Canadian businesses and citizens have a lot of economic freedom, it indicates that the government has a limited role in the economy.