Liberalisation is..............a)more tradeb)removing barriers or restrictions set by the governmentc)checking barriers by the governmentd)help by the governmentCorrect answer is option 'B'. Can you explain this answer?

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Liberalisation is the process or means of the elimination of the control of the state over economic activities. It provides greater autonomy to the business enterprises in decision-making and eliminates government interference.

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Liberalisation means removing trade barriers or restrictions by the government..liber word means free...it is done inorder to do foreign trade freely...

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Removal of trade barriers

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Liberalization is the process of removing barriers or restrictions set by the government. Liberalization is one of the important development of the modern world. It leads to the integration of markets and consumers. It made foreign investment and trade easier. It leads to the free flow of goods between the nations.

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It refers to the reduction or elimination of government regulations or restrictions on private business and trade. ... For example, the European Union has liberalized gas and electricity markets, instituting a competitive system.

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Economic liberalization refers to the reduction or elimination of government regulations or restrictions on private business and trade. ... For example, the European Union has liberalized gas and electricity markets, instituting a competitive system.

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Understanding Liberalisation
Liberalisation refers to the process of reducing or eliminating government restrictions on economic activities. This concept plays a crucial role in promoting free trade and market efficiency.
Key Aspects of Liberalisation:
- Removing Barriers:
Liberalisation primarily involves the removal of barriers or restrictions imposed by the government on trade and economic activities. This can include tariffs, quotas, and regulations that hinder the flow of goods and services.
- Encouraging Competition:
By reducing government interference, liberalisation encourages competition among businesses. This leads to better quality products, innovation, and lower prices for consumers.
- Global Integration:
Liberalisation often results in increased integration with the global economy. Countries can trade more freely with each other, leading to a more interconnected and dynamic market.
- Economic Growth:
By promoting trade and investment, liberalisation can stimulate economic growth. It allows countries to specialize in what they do best, enhancing overall productivity.
Conclusion:
In summary, option 'B' is the correct answer because liberalisation is fundamentally about removing barriers or restrictions set by the government, thereby facilitating a more open and competitive economic environment. This process is essential for fostering trade, innovation, and economic development.

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