Question

Match the following:

List I	List II
(P) Process of eliminating unnecessary controls for smooth functioning of business enterprises	1. Globalization
(Q) Transfer of ownership of an enterprise from the public sector to the private sector	2. Liberalization
(R) Cross border transactions in goods and services and international capital flows	3. Privatization
	4. Demonetization

• A. (P)3 (Q)2 (R)1
• B. (P)1 (Q)2 (R)4
• C. (P)2 (Q)1 (R)3
• D. (P)2 (Q)3 (R)1

Answer 1

Answer: (D)

(P)2 (Q)3 (R)1

• Liberalization: Abolishing industrial licencing requirement. It is a process of eliminating unnecessary controls, for smooth functioning of business enterprises.
  
• Privatization refers to the transfer of assets or service functions from public to private ownership or control. It means the withdrawal of the state from an industry or sector - partially or fully.
• Globalization refers to integration of world into one huge market by removing the trade barriers among countries. It is a cross border transactions in goods and services and international capital flows.