Question : Fill in the blanks- _________ Involves the regulating and reduction of government control and greater autonomy to make economy more competitive.
Option 1: Liberalisation
Option 2: Privatisation
Option 3: Globalisation
Option 4: None of the above.
Correct Answer: Liberalisation
Solution : Liberalisation involves the regulating and reduction of government control and greater autonomy to make economy more competitive. For emerging nations, economic liberalisation is typically viewed as a positive and desirable development. Unrestricted money flow into and out of the nation is the fundamental objective of economic liberalisation, which will increase economic growth and efficiency. Hence Option A is correct.
Question : Fill in the blanks- ________ means Integrating the national economy with the world economy.
Question : Fill in the blanks- _________ means the transfer of ownership, management, and control of public sector enterprises to private enterprises.
Question : Fill in the blanks- _________ means removal of entry and growth restrictions on the private sector.
Question : Name the process under which reduction in tax rates and lifting of unnecessary control over the economy was undertaken?
Option 1: Globalisation
Option 2: Liberalisation
Option 3: Privatisation
Option 4: All of the above
Question : Name the term/process which means integrating the economy with the rest of the world?
Option 4: None of the above
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