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Q.

Choose if the given statement is True/False.

Liberalization is removing restrictions set by the government.

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a

True

b

False

answer is A.

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Detailed Solution

The above statement is true.
Liberalization refers to making the policies made by the government liberal so that the trade flow goes smoothly. It is the process of removing restrictions that the government set in the account to protect their domestic producers from foreign competitors. After the introduction of liberalization, exporters and importers can trade freely without trade barriers, and foreign companies can also start their businesses in other countries. Liberalization is like countries opening their doors to other countries for economic development

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