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Economic Reforms — Economics STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsEconomic Reforms2 Marks
Question
Give the meaning and components of economic reforms.
✓

Answer

  • Meaning of economic reforms :
  • It is a process of systematically reducing policy regulations and excessive state imposed controls in economic functioning.
  • Components of economic reforms :
  • Following are the three important components of economic reforms :
  • Liberalization,
  • Privatization,
  • Globalization.

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