distinguish between privatisation and Liberalization
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privatization::
-privatization means the process where ownership and management of public sector industries is handed over to private sector.
-advantage: increase in no. of industries.
-disadvantage: increase in monopoly.
liberalization::
-liberalization means gradual reduction of restrictions and control of the state on economy and there by encourage economic development.
-advantages: encouragement to the private sector to increase production.
-disadvantage: increase in inequality of income.
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-privatization means the process where ownership and management of public sector industries is handed over to private sector.
-advantage: increase in no. of industries.
-disadvantage: increase in monopoly.
liberalization::
-liberalization means gradual reduction of restrictions and control of the state on economy and there by encourage economic development.
-advantages: encouragement to the private sector to increase production.
-disadvantage: increase in inequality of income.
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