Choose the given statement is True/False

Privatisation and liberalisation result in a regulated and closed economy.

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True

False

answer is B.

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Detailed Solution

The statement stated is irrelevant.
Private ownership or operation of publicly owned or operated means of production is known as privatisation. It enables the public sector to generate greater profits than in the past. The public sector will no longer be in charge of businesses, industries, and factories. Instead of the public sector being forced to choose between providing for social welfare and making a profit, they are more goal-oriented and aspire to make big profits. The public sector is unable to handle both at once. As a result, they levy various taxes on private companies, creating a situation where everyone wins. The government can make a sizable profit through the taxes levied against the private sector. Liberalisation is the process of removing governmental limitations or trade obstacles. Liberation is the outcome of privatisation and liberalisation.
Privatisation and liberalisation result in freedom from a regulated and closed economy.

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