Question

Expand NEO.

Hint:

NEO = New Economic Order → Focuses on reducing global economic inequality and promoting fair trade.

Answer 1

Concept: NEO stands for New Economic Order. It refers to a set of proposals and ideas aimed at restructuring the global economic system to make it more fair and equitable, especially for developing countries.
Step 1: of NEO.
NEO stands for New Economic Order. It was proposed to address inequalities between developed and developing nations.

Step 2: of the New Economic Order.
The main aim of NEO was to:
• Reduce economic inequalities between countries
• Ensure fair trade practices
• Provide better opportunities for developing nations
• Promote economic cooperation at the global level

Step 3: .
The concept of a New Economic Order became important during the 20th century when many newly independent countries demanded a more just and balanced international economic system.

Final Answer:
NEO stands for New Economic Order, which aims to create a fair and balanced global economic system.