Question

Statement (A): Removing barriers or restrictions set by the government is known as liberalisation. Statement (B): This meant that goods can be imported and exported easily. Choose the correct answer from the options given below:

• A. \textbf{Both Statement (A) and (B) are correct.}
• B. \textbf{Both Statement (A) and (B) are incorrect.}
• C. \textbf{Statement (A) is correct, (B) is incorrect.}
• D. \textbf{Statement (A) is incorrect, (B) is correct.}

Hint:

Liberalisation is a key part of economic reforms that ease international trade by reducing government-imposed restrictions.

Answer 1

The Correct Option is A

Liberalisation refers to the removal of trade barriers and restrictions, facilitating easier international trade. As a result, goods can indeed be imported and exported with fewer restrictions, making both statements factually correct.