Question

what refers to the opening up of local market for world market?​

Answer 1

Explanation:

i guess it's liberalisation (freedom of markets) or we could just say that it is globalisation...please don't take this answer for 100% crct...just attempting an answer from viewpoint of class 10

Answer 2

Globalization refers to the opening up of the local market for the world market.

Explanation:

• Globalization can be defined as an economic policy where the governments motivate firms to move out of their domestic markets and trade in international spaces. It allows international players to enter the local markets.
• In simple terms, globalization can be defined as going global.
• It also means opening up the local markets to all the business opportunities with minimum trade restrictions and maximum support from international governments to set up business in new countries.
• In India globalization was introduced in 1992 with the introduction of the new economic policy.