Question

What does the term ‘liberalisation policy’ refer to in the given passage?

• A. Regulation of State subsidies
• B. Regulation of market forces
• C. Regulation of social welfarism
• D. De-regulation of market forces
• A. Free enterprise
• B. State subsidies
• C. Centralized power
• D. State regulation
• A. Conservative measures
• B. Welfare measures
• C. Neo-liberal measures
• D. Protectionist measures
• A. Collapse of Welfare State
• B. Collapse of Capitalist State
• C. Collapse of Socialist State
• D. Collapse of trade protectionism
• A. It supports State regulation
• B. It is critical of State regulation
• C. It advocates for Socialist State
• D. It advocates for State subsidies

Answer 1

The Correct Option is D

In the given passage, the liberalisation policy refers to a process that advocates for the de-regulation of market forces, meaning it favors less government control and intervention in the economy, allowing market forces to operate freely. This approach aligns with the neo-liberal economic measures mentioned in the passage, which promote free enterprise and criticize state regulation and subsidies.

Let's review the options:

1. Regulation of State subsidies - This is not correct because the passage indicates that the liberalisation policy is critical of state subsidies, not in favor of regulating them.

2. Regulation of market forces - This is not correct because the liberalisation policy advocates for less regulation, not more.

3. Regulation of social welfare - This is not correct as the passage does not refer to regulating social welfare in relation to liberalisation.

4. De-regulation of market forces - This is the correct answer. The liberalisation policy calls for de-regulation, meaning reducing government control and allowing market forces to function freely.

Thus, the correct answer is Option 4: De-regulation of market forces.

Answer 2

The central political vision reflected in the economic policies underpinning globalization is free enterprise. The passage emphasizes that the policies promote free enterprise and believe that giving free rein to market forces will lead to efficiency and fairness. This vision advocates for minimal government interference, allowing market forces to operate freely without extensive state regulation or state subsidies.

Let's review the options:

1. Free enterprises - This is the correct answer. The passage reflects a political vision that supports free enterprise, where market forces are allowed to operate independently.

2. State subsidies - This is incorrect. The passage criticizes state subsidies as part of the liberalization policy, advocating for less government involvement.

3. Centralised power - This is incorrect. The passage does not emphasize centralised power but rather a reduction in state control over economic activities.

4. State regulation - This is incorrect. The passage highlights that the policies are critical of state regulation, not supportive of it.

Thus, the correct answer is Option 1: Free enterprises.

Answer 3

The passage mentions that the collapse of the socialist world hastened globalization and gave rise to a specific economic and political approach to economic policies, which are referred to as neo-liberal economic measures. These measures are associated with globalization and promote free enterprise, deregulation of market forces, and minimal government intervention in the economy.

Let's review the options:

1. Conservative measures - This is incorrect. The passage does not refer to conservative measures but focuses on neo-liberal economic measures which are more associated with free-market policies.

2. Welfare measures - This is incorrect. The passage criticizes state subsidies and welfare measures as being part of the problem in a free-market economy, which is the opposite of what neo-liberal measures advocate.

3. Neo-liberal measures - This is the correct answer. The neo-liberal economic measures advocated for a reduction in state regulation, emphasizing free-market principles and promoting globalization.

4. Protectionist measures - This is incorrect. Protectionism refers to policies aimed at protecting domestic industries from foreign competition, which is the opposite of what globalization and neo-liberal policies promote.

Thus, the correct answer is Option 3: Neo-liberal measures.

Answer 4

The passage highlights that the collapse of the erstwhile socialist world was a major political change that hastened globalization. The collapse of socialist states, particularly in Eastern Europe and the Soviet Union, led to a shift in global economic and political dynamics, contributing to the rise of neoliberal economic measures and the spread of free-market policies.

Let's review the options:

1. Collapse of Socialist State - This is the correct answer. The passage clearly states that the collapse of the socialist world was a significant political change that facilitated globalization and led to the adoption of neoliberal economic measures.

2. Collapse of Capitalist State - This is incorrect. The passage does not focus on the collapse of capitalist states but on the collapse of socialist states, which led to the spread of globalization.

3. Collapse of Mixed Economy - This is incorrect. The passage does not specifically mention the collapse of a mixed economy but rather focuses on the collapse of socialist states.

4. Collapse of trade protectionism - This is incorrect. While trade protectionism may have been impacted by globalization, the passage specifically mentions the collapse of socialist states as the key political change.

Thus, the correct answer is Option 1: Collapse of Socialist State.

Answer 5

According to the passage, the political vision behind globalization is one that challenges state regulation. The passage describes that the policies supporting globalization are critical of state regulation and subsidies, promoting a vision of free enterprise and allowing market forces to operate freely.

Let's review the options:

1. It supports State regulation - This is incorrect. The passage emphasizes that globalization policies are critical of state regulation and state intervention in the economy.

2. It challenges State regulation - This is the correct answer. The political vision behind globalization is to reduce state regulation and allow market forces to function with minimal interference from the state.

3. It advocates for Socialist State - This is incorrect. The passage focuses on neo-liberal policies associated with globalization, which are in contrast to socialist state policies.

4. It advocates for State subsidies - This is incorrect. The passage clearly states that globalization policies are critical of state subsidies, preferring a system based on free-market principles.

Thus, the correct answer is Option 2: It challenges State regulation.