Question : Case Study 9:
PQR Enterprises is a manufacturing company that has been impacted by a government policy change promoting liberalization, privatization, and globalization.
Q:- What does the term "liberalization" refer to?
Option 1: The process of reducing government intervention in the economy
Option 2: The process of nationalizing private companies
Option 3: The process of protecting domestic industries from foreign competition
Option 4: The process of promoting import restrictions
Correct Answer: The process of reducing government intervention in the economy
Solution : The correct answer is (A) The process of reducing government intervention in the economy
The term "liberalization" refers to the process of reducing government intervention in the economy. It often involves reducing trade barriers, deregulating industries, and allowing more market-driven economic activities. Liberalization is typically associated with policies aimed at increasing economic openness and competition.
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