__________ refers to the transfer of assets or services function from public to private ownership.

Globalisation

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Privatisation

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Disinvestment

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Liberalisation

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Solution

The correct option is B Privatisation
Privatization refers to the transfer of assets or services function from public to private ownership.
it is the process of transferring property from public ownership to private ownership and/or transferring the management of a service or activity from the government to the private sector. Privatization can be partial or complete.

Suggest Corrections

(A) Liberalization	(1) Refers to partial or full transfer of ownership and control of PSUs to the private sector.
(B) Privatization	(2) Refers to relaxation of government's restriction in the scope of economic and social polices.
(C) Disinvestment	(3) Refers to a method of privatization, whereby part of shareholdings of a PSU is sold to the private sector.