Economics · Economic Reforms
Which of the following is the correct definition of liberalisation?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It is the process by which an economy is transformed from an agricultural one to the manufacturing of goods.
- 2It is a policy that focuses on increasing government laws and restrictions in order to encourage greater participation by public entities.
- 3It is a situation where there is a single seller in the market.
- 4It is a process of removing state control and regulations in order to encourage economic development.✓
Correct answer
It is a process of removing state control and regulations in order to encourage economic development.
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