Economics Quiz on Liberalisation, Privatisation and Globalisation
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1. What does liberalisation primarily refer to in the context of the Indian economy?
Reduction of government intervention · Increase in tariffs · Nationalisation of industries · Control over foreign investments
2. Which of the following is a key feature of privatisation?
Government ownership of enterprises · Transfer of ownership to private sector · Increased regulation by the state · Higher taxes on private firms
3. Globalisation primarily involves which of the following?
Isolation of economies · Integration of national economies · Increased tariffs on imports · Reduction of foreign trade
4. What was one of the main objectives of the economic reforms initiated in 1991?
To increase government control · To boost economic growth · To limit foreign investments · To reduce competition
5. Which sector has seen significant growth due to liberalisation?
Agricultural sector · Service sector · Public sector · Heavy industry
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