How did economic reforms in Turkey in the late 1900s improve the Turkish economy?
(1 point)
A. Turkey made it easier for people to start new businesses and form private companies
B.Turkey invested in government projects, putting money into the economy.
C.Turkey joined the European Union, expanding trade markets and banging businesses in from Europe
D.Turkey expanded oil production, bringing more money into the industrial sector
A. Turkey made it easier for people to start new businesses and form private companies.
The correct answer is:
A. Turkey made it easier for people to start new businesses and form private companies.
In the late 1900s, Turkey implemented economic reforms that aimed to liberalize its economy. One key aspect of these reforms was making it easier for individuals to start new businesses and establish private companies. This created a more favorable environment for entrepreneurship and led to increased investment in various sectors of the economy. The reforms also aimed to reduce bureaucracy and barriers to entry, making it easier for businesses to operate and thrive in Turkey. Therefore, by promoting private sector development, these economic reforms played a significant role in improving the Turkish economy.
The correct answer is A. Turkey made it easier for people to start new businesses and form private companies.
In order to arrive at this answer, we can look at the economic reforms implemented in Turkey in the late 1900s and analyze their impact on the Turkish economy.
Firstly, Turkey implemented economic liberalization policies in the 1980s to promote private sector growth and reduce the role of the state in the economy. This involved reducing government intervention, deregulating industries, and opening up markets to competition. By making it easier for people to start new businesses and form private companies, these reforms encouraged entrepreneurial activity and brought about increased investment and job creation.
Secondly, Turkey undertook financial reforms to stabilize the economy and attract foreign investment. This included measures such as deregulating the banking sector, liberalizing interest rates, and strengthening financial institutions. These reforms helped to create a more stable economic environment, attracting both domestic and foreign investors.
Thirdly, Turkey focused on export-oriented industrialization, promoting the manufacturing sector and expanding its export markets. This involved providing incentives for exports, establishing export processing zones, and improving trade infrastructure. By expanding its trade relations with other countries, Turkey managed to diversify its export base and increase its foreign exchange earnings.
By considering these reforms and their impact, it becomes clear that the implementation of policies that made it easier for people to start new businesses and form private companies played a significant role in improving the Turkish economy in the late 1900s.