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Role of Government

The relaxatio...

Question

The relaxation of government restrictions in areas of social of economic policy is known as _______.

A

privatization

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B

globalization

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C

liberalization

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D

none of the above

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Solution

The correct option is C liberalization
The relaxation of government restrictions in areas of social of economic policy is known as liberalization. It refers to the process of eliminating unnecessary conntrols and restrictions on the smooth functioning of business enterprise.

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Liberalisation means

(a) Integration among the economies

(b) Reduced government controls and restrictions

(c) Policy of planned disinvestment

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Statement: The economic policies of the government are being criticized by some economists as being opposed to the concept of social equality.
Course of action:
I. Since capitalism and social evaluate can't go together, the government need not bother about such criticisms.
II. The government should evaluate such criticisms for any possible merit.
III.The economic policies should be changed in such a way that social equality is included in its objectives.

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Which of the following options is most appropriate to suit the above statement?

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A. Fiscal policy
B. Foreign policy
C. Social policies

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