The removal of barriers or restrictions by the government is known as ____.

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Detailed Solution

The removal of barriers or restrictions by the government is known as liberalisation.
Liberalisation refers to lifting the restrictions imposed by the government on foreign trade. The restrictions imposed by the government on business can be set in two ways: one is when the government imposes taxes which raises the prices of the imported goods. The second is when the government imposes restrictions on the volume of imported and exported goods. Liberalisation means lifting both the limits set to increase foreign trade. And globalisation and liberalisation are linked as liberalisation is a crucial policy developed by the government for globalisation.

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