Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

General Knowledge

Topic

Economics

Question:

Which of the following options is the correct term used for "Removing barriers or restrictions set by the government"?

Options:

Liberalization

Privatization

Foreign investment

Trade barrier

Correct Answer:

Liberalization

Explanation:

Removing barriers or restrictions set by the government is what is known as "Liberalization". With liberalization of trade, businesses are allowed to make decisions freely about what they wish to import or export. The government imposes much less restrictions than before and is therefore said to be more liberal.