Question

Laissez-faire economy v short ans

Answer 1

Laissez-faire is an economic system of free-market capitalism in which transactions between private groups of people are free of government intervention . It is an important concept to understand capitalism ,free markets ,ect .  However, this system has its own advantages and disadvantages.  

Answer 2

Laissez faire economy

Explanation:

Laissez-faire economic system refers to a system where there is no governmental intervention in any affairs.

• This system is also being followed in business organizations where their superiors do not interfere in the day-to-day working of low-level management.
• Laissez-faire is a very effective system of motivating the workers and getting the work done.
• The system allows a natural work order which is not only harmonious but also allows people to self-regulate.
• This type of system is also great for achieving fast development and getting results in a shorter duration of time.