+91-8076753736 [email protected]
logo
logo

Sponsor Area

The Market As A Social Institution

Question
CBSEENSO12044535
Wired Faculty App

What is meant by liberalisation?

Solution

liberalisation is a policy that comprises privatisation of public sector enterprises (viz selling government-owned companies to private companies), loosening of government regulations on capital, labour and trade, reduction in tariff and import duties so that foreign goods can be imported more easily. This includes allowing easier access for foreign companies to set-up industries in India. In briefs, this change can be stated as marketisation or laissez-faire (alone or let it be or free market) the term coined by Adam Smith, the father of economics. It is use of market-based processes, free from government control or policies to extract solution of problems in society, politics and economy. These processes advocate complete deregulations.

Sponsor Area

Some More Questions From The Market as a Social Institution Chapter

Explain the meaning of commoditisation with the help of examples.

What is a status symbol?

What are some of the processes included under the label globalisation?

What is meant by liberalisation?

In your opinion will the long term benefits of liberalisation exceed its costs? Give reasons for your answer.

How can you state that markets are nothing else but a kind of social organisation?

What is kinship? Discuss the functions of kinship in Indian society.

Discuss the positive and the negative impacts of globalisation.

Discuss the emergence of new market during colonial India.

How is capitalism a social system pushed in the alley of commodification?

Mock Test Series

Mock Test Series

NCERT Sample Papers

Entrance Exams Preparation