Practicing Success
Practicing Success
CUET Preparation Today
Which of the following statement is correct ? |
Licensing was made compulsory in most of industries by the Government in 1991. Restrictions were imposed on movements of goods and services by the Government in 1991. Taxes were imposed and the complicated system of Export-Import trade was established by the Government in 1991. Freedom was given to traders in fixing prices of goods and services. |
Freedom was given to traders in fixing prices of goods and services. |
The correct answer is option (4) : Freedom was given to traders in fixing prices of goods and services. The correct statement is: Freedom was given to traders in fixing prices of goods and services. During economic reforms in India in 1991, one of the significant changes was the liberalization of the pricing mechanism. The government moved away from regulating prices, and it allowed businesses and traders more freedom in determining the prices of goods and services. This shift aimed to promote competition and market-driven pricing. The other statements are not accurate or are oversimplifications of the complex economic reforms that took place in 1991. |
