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Home Questions J7XMTJMENT
Target Exam

CUET

Subject

Sociology

Chapter

Indian Society: Market as a social Institution

Question:

The French phrase "Laissez - Faire" given by political economist, Adam Smith, stands for which of the following concepts?

Options:

Invisible force at work under the market system

Free Market - No regulations by State

Social embededness of Markets

Increased governmental control

Correct Answer:

Free Market - No regulations by State

Explanation:

The correct answer is Option (2) → Free Market - No regulations by State.

Laissez-faire, a French phrase that means ‘leave alone’ or ‘let it be’. It stands for Free Market. It advocates for minimal government intervention in economic affairs, allowing markets to operate freely without extensive regulations or control by the state.

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