Question

Briefly discuss the main components of new economic policy.​

Answer 1

Answer:

Here is your answer ⬇️

Explanation:

There are three major components or elements of new economic policy- Liberalisation, Privatisation, Globalisation.

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Answer 2

Answer:

There are three major components or elements of new economic policy- Liberalisation, Privatisation, Globalisation

Explanation:

Liberalisation - the loosening of government controls. Although sometimes associated with the relaxation of laws relating to social matters such as abortion and divorce, liberalization is most often used as an economic term. In particular, it refers to reductions in restrictions on international trade and capital.

Privatisation - The transfer of ownership, property or business from the government to the private sector is termed privatization. The government ceases to be the owner of the entity or business. The process in which a publicly-traded company is taken over by a few people is also called privatization.

Globalization - the word used to describe the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.