Question

Removing barriers or restrictions set by the government is known as

(A) Globalisation

(B) Privatisation

(C) Nationalisation

(D) Liberalisation

Answer 1

d-liberalisation is the answer

Answer 2

Removing barriers or restrictions set by the government is known as Liberalization.

Option (D)

Explanation:

Liberalization is the eviction of trade barriers/restrictions by a government. In India, this was done in 1991. Some of the features of liberalization are:  

a. It is integral to the process of globalization

b. Markets have become more interconnected

c. Business can make free decisions about imports and exports  

d. As an outcome of liberalization, there is more competition amongst different companies.

Learn more about Liberalization:

What is liberalization?

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Contemporary issue on economic liberalization

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