7. Out of Liberalisation, Privatisation and Globalisation, which term matches the best from the following: [6]
a. It involves deregulation and reduction of government controls and greater autonomy of private investment.
b. It means integration of economy of the country with the world economy.
c. It implies greater role of private sector in the economic activities of the country.
d. It aims to remove entry and growth restrictions on the Private Sector.
e. It involves selling off part of the equity of public sector undertakings to the public.
f. It aims to create a borderless world.
Answers
Answer:
Out of Liberalisation, Privatisation and Globalisation, which term matches the best from the following: [6] a. It involves deregulation and reduction of government controls and greater autonomy of private investment. b. It means integration of economy of the country with the world economy
(a) Liberalization
(b) Globalization
(c) Privatization
(d) Privatization
(e) Disinvestment
(f) Globalization
Explanation:
(a) Liberalization involves deregulation and reduction of government controls and greater autonomy (freedom) of private investment, to make economy more competitive.
(b) The integration of the country with the world economy is called globalization.
(c) The process through which a piece of property or a business passes from government ownership to private ownership is known as privatization.
(d) Privatization remove entry and growth restrictions on the Private Sector.
(e) Privatization of the public sector undertakings by selling off part of the equity of PSUs to the private. sector is known as disinvestment.
(f) Globalization has indeed created a borderless world.