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Question
Which one of the following best describes liberalisation?
Options
Protecting domestic industries
Banning foreign companies
Removal of restrictions on trade
Restricting foreign investment
MCQ
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Solution
Removal of restrictions on trade
Explanation:
Liberalisation is the government’s decision to decrease or eliminate barriers to international commerce and investment, such as licensing and quotas. This process allows enterprises to make their own import and export decisions, hence encouraging a more open economy.
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