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Q.

Choose the given statement is true/false:

Integrating the world economy with a nation's economy is liberalisation.

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a

True

b

False

answer is B.

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Detailed Solution

The given statement is false.
Integrating the world economy with a nation's economy is known as globalisation. On the other hand, removing trade barriers imposed by the government is termed the process of liberalisation. The liberalisation process leads to the integration of a country's economy with that of other countries.
Thus, the correct statement is that integrating the world economy with a nation's economy is globalisation.

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