When Did India Undertake a Significant Liberalization of Its Economy

question 25

Multiple Choice

When did India undertake a significant Liberalization of its economy?

• A) In the early 1990's
• B) In the early 1980's
• C) In the early 2000's
• D) In the late 1990's
• E) India has not undertaken any significant liberalization

---

Definitions:

Product Design

The process of defining the appearance and functionality of a product, ensuring it meets user needs and preferences.

Overhead Costs

General business expenses not directly tied to the production of a product or service, such as rent, utilities, and administrative costs.

Functional Resources

Assets or inputs that are practical and directly contribute to the production process or service delivery in organizations.

Internal Competition

Describes a situation within an organization where employees or departments compete against each other for recognition, promotion, or rewards, which can either be motivating or destructive.