Liberalisation refers to a policy shift towards reduced government intervention in economic activities, resulting in increased market efficiency, competition, and integration among economies. The following are the reasons why option 'B' is the correct answer:

Reduced Government Controls and Restrictions:
Liberalisation involves the removal of trade barriers, such as tariffs and quotas, to allow free flow of goods and services across borders. It also means the elimination of bureaucratic regulations that hinder businesses' growth and innovation. By reducing government controls and restrictions, businesses can operate more efficiently, and consumers can access a wider range of products at lower prices.

Market Competition:
Liberalisation encourages market competition by allowing companies to compete freely and fairly, which leads to lower prices, better quality products, and improved customer service. The competition also promotes innovation as companies strive to develop new products and strategies to gain a competitive advantage.

Integration among Economies:
Liberalisation promotes integration among economies by breaking down barriers to trade and investment. It leads to the creation of regional and global markets, allowing businesses to access new markets and customers. Integration among economies also leads to increased foreign investment, which can help boost economic growth.

In conclusion, liberalisation is a policy that involves reduced government intervention in economic activities, increased market competition, and integration among economies. It allows businesses to operate more efficiently and provides consumers with a wider range of products at lower prices.