The economic policy of lowering tariffs and other barriers to encourage trade and investment is known as:
A) liberalization.
B) globalization.
C) capitalism.
D) multinationality.

Question

Quizplus · Accepted Answer

The economic policy of lowering tariffs and other barriers to encourage trade and investment is known as liberalization. This policy is intended to promote free trade and open markets between countries and is often associated with a market-oriented or capitalist economic system. Globalization and multinationality are broader terms that describe the trend towards increased economic interdependence and integration between countries, while capitalism is a specific economic system characterized by private ownership of the means of production and the pursuit of profit as the primary objective.

The Economic Policy of Lowering Tariffs and Other Barriers to Encourage