Question

what do you understand by liberalisation of foreign trade​

Answer 1

Answer:

(i) Removing barriers or restrictions set by the government is known as liberalisation.

(ii) With the liberalisation of trade, businesses are allowed to make decisions freely about what they wish to import or export.

(iii) The government imposes lesser restrictions than before and is therefore, said to be more liberal

Answer 2

ᴛʀᴀᴅᴇ ʟɪʙᴇʀᴀʟɪᴢᴀᴛɪᴏɴ ɪs ᴛʜᴇ ʀᴇᴍᴏᴠᴀʟ ᴏʀ ʀᴇᴅᴜᴄᴛɪᴏɴ ᴏғ ʀᴇsᴛʀɪᴄᴛɪᴏɴs ᴏʀ ʙᴀʀʀɪᴇʀs ᴏɴ ᴛʜᴇ ғʀᴇᴇ ᴇxᴄʜᴀɴɢᴇ ᴏғ ɢᴏᴏᴅs ʙᴇᴛᴡᴇᴇɴ ɴᴀᴛɪᴏɴs. ᴛʜɪs ɪɴᴄʟᴜᴅᴇs ᴛʜᴇ ʀᴇᴍᴏᴠᴀʟ ᴏʀ ʀᴇᴅᴜᴄᴛɪᴏɴ ᴏғ ᴛᴀʀɪғғ ᴏʙsᴛᴀᴄʟᴇs, sᴜᴄʜ ᴀs ᴅᴜᴛɪᴇs ᴀɴᴅ sᴜʀᴄʜᴀʀɢᴇs, ᴀɴᴅ ɴᴏɴᴛᴀʀɪғғ ᴏʙsᴛᴀᴄʟᴇs, sᴜᴄʜ ᴀs ʟɪᴄᴇɴsɪɴɢ ʀᴜʟᴇs, ϙᴜᴏᴛᴀs ᴀɴᴅ ᴏᴛʜᴇʀ ʀᴇϙᴜɪʀᴇᴍᴇɴᴛs.ᴏᴄᴛ 21, 2018