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4 May, 04:07

When economist use the term laissez-faire what economic idea are they referring to

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  1. 4 May, 07:41
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    The term laissez-faire depicts the economic idea of conducting business transactions without government interference.

    Laisses-faire is a french term which means "to let go". In the economic scenario, it enables merchants to self-regulate and do free trading with other merchants and clientele.

    They are not subject to the government's imposition of tariffs, subsidies, regulations, and privileges.
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