Practice Economic Liberalization (1991) (2.2.3)

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6 sample questions

Question 1.
What does economic liberalization refer to?
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Think about the relationship between the government and the economy.
Question 2.
In what year did India experience economic liberalization?
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Recall the crisis that led to the reforms.
3Question 3.
What year did India liberalize its economy?
- 1985
- 1990
- 1991
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Connect it with the balance of payments crisis.
4Question 4.
The reduction of tariffs is associated with economic liberalization. True or False?
- True
- False
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Remember what you learned about the barriers to trade.
Question 5.
Evaluate how the 1991 economic reforms may have set the stage for India's later successes in the technology sector.
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Think of specific examples of technological innovations post-liberalization.
Question 6.
Discuss the socio-economic impacts of liberalization, including both positive growth and negative inequality.
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Review points on both economic growth and societal challenges.

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