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Question
Removing barriers or restrictions set by the government is known as ______.
Options
globalisation
privatisation
liberalisation
fair trade practice
MCQ
Fill in the Blanks
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Solution
Removing barriers or restrictions set by the government is known as liberalisation.
Explanation:
Liberalisation means the removal of government controls and restrictions on trade and industry, such as import quotas, tariffs, and licensing, to allow freer markets. It involves lifting trade barriers and relaxing foreign‑exchange and labour rules so private and foreign firms can operate more easily, promoting competition and global integration.
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