Removing barriers or restrictions set by the government is known as:
(A) Privatisation
(B) Liberalisation
(C) Globalisation
(B) Industrialisation
Answer:
So, the correct answer is (B): Liberalization
Explanation
- (A) Privatization - transfer of government ownership and control to private investors.
- (B) Liberalization - Removal of trade barriers or restrictions set up by the Government.
- (C) Globalization - the process of rapid integration or interconnection between countries .
- (D) Industrialization - Process of transforming the economy from agrarian to manufacturing by setting up manufacturing/ industrial units.
