No country is capable enough to produce all the goods and services itself required for its use. Almost all the countries have certain goods and services in surplus and in certain others, deficiency. In this way all of them feel the necessity for exporting the goods and services in surplus and those of deficiency , to import. In order to solve this problem several countries have zeroed in the complexities of import export business. Consequently, balance is getting established in the demand and supply of goods and services. Identify the concept of business environment described in the paragraph above and explain in detail.
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balance of imports and exports
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Liberalization is the process or method of removing the state's control over economic activities. It gives corporate firms more liberty in decision-making and eliminates government intervention.
Explanation:
- To abolish these restrictions and open up numerous sectors of the economy, liberalization began.
- Though certain liberalization suggestions in sectors such as export-import policy, technological upgrade, fiscal policy, and foreign investment were prefaced in the 1980s, industrial licencing and economic reform measures introduced in 1991 were broader.
- There are a few notable areas that acquired notoriety in and after 1991, namely the financial industry, industrial sector, foreign currency markets, tax reforms, and investment and trade sectors.
Hence, liberalization has opened economic boundaries to international enterprises and investments for emerging countries. Previously, investors had difficulty entering countries with numerous hurdles.
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