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,

Laissez-faire

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.

the monroe doctrine is the best known u.s. policy toward the western hemisphere. buried in a routine annual message delivered to congress by president james monroe in december 1823, the doctrine warns european nations that the united states would not tolerate further colonization or puppet monarchs.