Concept of laissez-faire was given by _________.

Talcott Parsons August Comte Karl Marx Adam Smith

Adam Smith

The correct answer is Option (4) → Adam Smith Adam Smith, a Scottish economist is known for his advocacy of laissez-faire economics, which emphasizes minimal government intervention in economic affairs and promotes free markets. Laissez-fair is a French phrase that means ‘leave alone’ or ‘let it be’.