Answer:
One of the main issues in economics is the extent to which the government should intervene in the economy. Free market economists argue that government intervention should be strictly limited as government intervention tends to cause an inefficient allocation of resources. However, others argue there is a strong case for government intervention in different fields, such as externalities, public goods and monopoly power.
An absolute monarch is a type of form of monarchy in which the monarch holds supreme autocratic authority, principally not being restricted by written laws, legislature, or non written customs.
A political doctrine in defense of monarchical absolutism, which asserted that kings derived their authority from God and could not therefore be held accountable for their actions by any earthly authority such as a parliament.