Podcast
Questions and Answers
Economic reforms aim to improve a country’s economy by updating rules and policies, reducing government control, and encouraging ______ businesses to grow.
Economic reforms aim to improve a country’s economy by updating rules and policies, reducing government control, and encouraging ______ businesses to grow.
private
Liberalization involves reducing government control over businesses to create a more ______ and flexible market.
Liberalization involves reducing government control over businesses to create a more ______ and flexible market.
competitive
Privatization refers to moving government-owned enterprises to ______ ownership to improve efficiency and innovation.
Privatization refers to moving government-owned enterprises to ______ ownership to improve efficiency and innovation.
private
Globalization involves opening the economy to global ______ and investment, allowing businesses to compete internationally.
Globalization involves opening the economy to global ______ and investment, allowing businesses to compete internationally.
Fostering global ______ is one of the key aspects of globalization, connecting economies worldwide.
Fostering global ______ is one of the key aspects of globalization, connecting economies worldwide.
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Study Notes
###Â Economic Reforms
- Economic reforms are changes made to improve a country’s economy.
- They involve updating rules and policies to reduce government control and encourage private sector growth.
###Â Liberilization
- Â Liberization reduces government control over businesses.
- Â This creates a more competitive and flexible market.
###Â Privatization
- Â Privatization transfers government-owned enterprises to private ownership.
- Â This aims to improve efficiency and innovation.
Globalization
- Â Globalization opens the economy to global trade and investment.
- Â It enables businesses to compete internationally.
- Â Globalization aims to foster global integration.
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