BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Relaxing the restrictions and controls imposed on Business and industry means *
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Globalisation
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Liberalisation
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Privatisation
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All of the above
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Explanation:
Detailed explanation-1: -Liberalization refers to relaxation of government restrictions usually in areas of social and economic policies. It refers to the process of eliminating unnecessary controls and restrictions on the smooth functioning of business enterprises.
Detailed explanation-2: -Relaxing the restrictions and controls imposed on business and industry means liberalisation.
Detailed explanation-3: -Liberalisation in economics means minimising the government’s restrictions and regulations in an economy, in return for higher involvement of private organisations. In short, liberalisation means the removal of restrictions in order to promote economic development.
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