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

when economist use the term laissez-faire what economic idea are th...

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

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

Answer

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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Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 26 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 436 views.

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