Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Business Environment

Question:

Which of the following deals with the process of simplification of Import-Export?

Options:

Liberalisation

Privatisation

Globalisation

Liberalisation and privatisation

Correct Answer:

Liberalisation

Explanation:

Liberalisation refers to the process of reducing government restrictions and regulations on economic activities, including international trade. In the context of import-export, liberalisation involves simplifying and easing the rules and regulations related to cross-border trade. This can include reducing tariffs, removing trade barriers, and promoting a more open and competitive international trade environment.