The liberalisation aims at putting an end to restrictions that can be hindrances to the growth and development of the country. The fewer restriction of the government in a nation allows private companies’ to work independently and expand for the development of the country. The expansion of private section depicts how the country is liberalized.
Given below are important MCQs on Liberalisation to analyze your understanding of the topic. The answers are also given for your reference.
Eliminating government set restrictions or barriers is called:
(a) Free trade
(b) Favourable trade
Liberalisation aims at
(a) Socialistic pattern of society
(b) Economic Planning
(c) Economic Reforms
(d) Land Reforms
Price rigidity is the characteristic of
(c) Monopolistic competition
(d) Perfect competitive competition
Stay tuned to BYJU’S for more MCQ’s on Economics, question papers, sample papers, syllabus and Commerce notifications.