Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Are liberalized institutions better for economic development?
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Introduction
The processes that encourage free trade, deregulation, the removal of subsidies, price restrictions, rationing systems, and frequently the outsourcing or privatisation of public services are all included in economic liberalisation. The liberalisation of energy and gas by the European Union is one instance of liberalisation.
Programs, policies, or initiatives aimed at enhancing a community's economic health and quality of life are known as economic development initiatives.The results of economic development in a nation include increased production, higher literacy rates, and improved public education.
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