Since the collapse of communism at the end of the 1980s, the erstwhile communist nations have transformed their economies by globalizing their markets. This involves _____.
A) regulating markets
B) privatizing state-owned enterprises
C) decreasing competition
D) reducing foreign investment

Question

Quizplus · Accepted Answer

Since the collapse of communism at the end of the 1980s, the pendulum of public policy in nation after nation has swung toward the free market end of the economic spectrum. Regulatory and administrative barriers to doing business in foreign nations have been reduced, while those nations have often transformed their economies, privatizing state-owned enterprises, deregulating markets, increasing competition, and welcoming investment by foreign businesses.

Since the Collapse of Communism at the End of the 1980s