14. Which of the following deals with theprocess of simplification of Import-Export?a. Liberalization b. Privatizationc. Liberalization & Privatization d. Globalization
Answers
Answer:
Features of Liberalisation :
(i) Freedom of opening/starting production units.
(ii) Use of new machines and technology.
(iii) No government interference in production.
(iv) Free flow of foreign investment.
Features of Privatization:
(i) Reduction in extra burden on government.
(ii) Control over poor performance of public sec-tor.
(iii) Check on high-handedness of bureaucracy.
(iv) Disinvestment (sale of shares in PSUs to
public)
Features of Globalization:
(i) It results in integration of world economies that
helps in raising world production.
(ii) It helps in removing inefficiency from industrial
units.
(iii) It helps in improving allocative efficiency of
resources.
(iv) It encourages global competition which reduces
costs and improves quality.
Explanation:
Answer: d. Globalization
Explanation: globalization is easing import and export restrictions to enhance international trade.