Laissez faire in economics refers to ........

Economic and Social Issues Nature of Indian economy

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Laissez-faire in economics refers to:

a term denoting economic transactions carried out by the State/government

economic transactions in private parties where there is no intervention by the State/government

a branch of socialism focusing on welfare economics

None of the above

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Explanation:

Laissez-faire is an economic system in which transactions between private parties are free from government interference such as regulations, privileges, tariffs, and subsidies. The phrase laissez-faire is part of a larger French phrase and literally translates to "let (it/them) do", but in this context usually means to "let go"