LPG Model
ICSE · Class 9 · Economics
Practice quiz for LPG Model — ICSE Class 9 Economics. MCQs and questions with answers to test your preparation.
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Quick Quiz: LPG Model
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What does LPG stand for in the New Economic Policy?
Economic reforms in India refer to policy measures introduced since 1991 to improve what?
Who was the Prime Minister of India when the New Economic Policy was introduced in 1991?
Who was the Finance Minister of India at the time the New Economic Policy was introduced in 1991?
Sample Questions
Which of the following is a component of the LPG Model?
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Liberalisation
Liberalisation is one of the three components of the LPG Model.
Which statement best describes liberalisation?
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Liberating trade and industry from unwanted government controls and restrictions
Liberalisation means removing unwanted controls and restrictions on trade and industry.
What is privatisation?
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A process that reduces the participation of the state or public sector in economic activities
Privatisation reduces the role of the state or public sector and gives a greater role to private capital.
What does globalisation mean?
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Integrating the domestic economy with the world economy
Globalisation means integrating the economy with the world economy.
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