Question

Which of the following is implied by liberalisation in the context of this chapter?

• A. Liberalisation is the process by which the nation gives up its cultural identities and traditions, replacing them with modern ideas.
• B. Liberalisation is the process by which the country is integrated into the global economy.
• C. Liberalisation is the process by which government control and red-tapism are reduced, and operations of the economy are less tethered by restraints.
• D. None of the above

Answer 1

The correct option is C

Liberalisation is the process by which government control and red-tapism are reduced, and operations of the economy are less tethered by restraints.

In the context of this chapter, liberalisation is the process by which government control and red-tapism are reduced, and operations of the economy are less tethered by restraints.