Multiple choice

What does the term 'Laissez Faire' signify?

  1. Non - interference by State in law and order

  2. Sound Commercial affairs

  3. Non - interference by State in the economic affairs

  4. None of these

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Laissez Faire is an economic philosophy advocating minimal state interference in economic affairs. It promotes free markets with limited government regulation, allowing supply and demand to operate without state intervention.