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Question
Why did the government decide to remove barriers on foreign trade and foreign competitor?
Options
To earn the foreign exchange.
To compete with producers in the world market.
To bring faster growth in the economy.
All of these.
MCQ
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Solution
All of these.
Explanation:
The government removed barriers to foreign trade to earn more foreign exchange through exports, promote competition with global producers, and improve efficiency and quality in domestic industries. This also encouraged investment and technology transfer, leading to faster economic growth and overall economic development.
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