Question 3 - MCQ Questions (1 Mark) - Chapter 4 Class 10 Economics - Globalisation and the Indian Economy - Economics

Last updated at April 16, 2024 by

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.
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