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Q.

Removing trade barriers and restrictions set by the government is called ____


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Detailed Solution

Removing trade barriers and restrictions set by the government is called Liberalisation. Governments can use trade barriers to control the volume of foreign trade. If the government wishes to decrease the volume of foreign exchange or investment in the Economy, it can impose more trade barriers. On the other hand, if the government wishes to increase such work, it can decide to lift the existing restrictions. Such withdrawal of trade barriers and restrictions is known as Liberalisation.
 
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Removing trade barriers and restrictions set by the government is called ____