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An economic system in which transactions between private parties are free from government interference such as regulations, privileges, tariffs, and subsidies is known as Laissez-faire Laissez-faire, Capitalism Capitalism, Socialism Socialism, Communism Communism,

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User Drdrdr
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2 Answers

5 votes

Answer:

Capitalism

Step-by-step explanation:

answered
User Gentry
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1 vote

Answer:

Laissez-faire

Step-by-step explanation:

Laissez-faire has its root word from french which conveys the idea of letting something occur without interference.

Indeed, it is an economic system in which transactions between private parties are free from government interference such as regulations, privileges, tariffs, and subsidies.

In summary, the basic idea of the Laissez-faire economic system is that there should be a complete separation of government from the economic sector.

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User JasmineOT
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