Which statement correctly explains the meaning of economic liberalism?
Answer and explanation
Correct answer: Barriers on the movement of goods and capital should be reduced
Economic liberalism favoured freer markets and the removal or reduction of unnecessary restrictions on economic activity. In nineteenth-century Europe, liberal nationalists supported easier movement of goods, capital, and often people across internal boundaries. Option B expresses this principle. Separate customs duties, exclusion of merchants, and a proliferation of regional currencies would preserve fragmentation and restrict trade rather than encourage economic unity.
Frequently asked questions
What is the correct answer to this question?
Barriers on the movement of goods and capital should be reduced
Why is this the correct answer?
Economic liberalism favoured freer markets and the removal or reduction of unnecessary restrictions on economic activity. In nineteenth-century Europe, liberal nationalists supported easier movement of goods, capital, and often people across internal boundaries. Option B expresses this principle. Separate customs duties, exclusion of merchants, and a proliferation of regional currencies would preserve fragmentation and restrict trade rather than encourage economic unity.
Which subject and chapter does this question cover?
This is a Class 10 Social Science question. Chapter: The Age of Industrialisation. Topic: The Making of Nationalism in Europe (Aristocracy, New Middle Class, Liberal Nationalism).
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