Q1. [1] § Liberalisation of foreign trade and foreign investment policy § WORLD TRADE ORGANISATION
⚠ Globalisation and the Indian Economy › WORLD TRADE ORGANISATION — Internal project only — not in the Board exam (per CBSE 2026-27 curriculum)
Only 'What is Globalisation?' and 'Factors that have enabled Globalisation' are in the Board exam; the remaining sub-topics are the internally-assessed interdisciplinary project. [source: Course Structure — Economics, Chapter 4 (Subtopics evaluated in Board)]Choose the correct option to fill in the blank:
The process of removing barriers on foreign trade and investment by the government is known as ________.
- A Import Tax
- B Export Tax
- C Liberalisation
- D Industrialisation
Previously asked in CBSE board exam
2025 32/3/1 Q13
Generated by claude-sonnet-4-6 · 2026-06-15 06:57 · grounding rag
Model Answer
C) Liberalisation
The process of removing barriers or restrictions on foreign trade and investment set by the government is known as Liberalisation.
Explanation
The passage directly states: "Removing barriers or restrictions set by the government is what is known as liberalisation." Import Tax and Export Tax are types of trade barriers, not their removal. Industrialisation refers to industrial development. Examiners expect the exact term with its meaning.
Source: Chapter 4, Liberalisation of foreign trade and foreign investment policy.
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