The liberalisation aims at putting an end to the restrictions that can be hindrances to the growth and development of the country. The fewer restrictions of the government in a nation allow private companies to work independently and expand for the development of the country. The expansion of the private section depicts how the country is liberalised.
Given below are important MCQs on Liberalisation to analyse your understanding of the topic. The answers are also given for your reference.
Eliminating government set restrictions or barriers is known as?
(a) Free trade
(b) Favourable trade
What does liberalisation aim at?
(a) Socialistic pattern of society
(b) Economic planning
(c) Economic reforms
(d) Land reforms
Price rigidity is the characteristic of which of the following?
(c) Monopolistic competition
(d) Perfect competitive competition
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