________ means permitting the private sector to setup industries which were previously reserved for public sector.

(a)

Liberalisation

(b)

Privatisation

(c)

Globalisation

(d)

Public Enterprise

Liberalization is the result of New Industrial policy which abolished the

(a)

License System

(b)

License Ray

(c)

Both (a) and (b)

(d)

None of these

The removal of tariff barriers can lead to lower prices for

(a)

suppliers

(b)

consumers

(c)

competitors

(d)

none of these

The trade liberalisation often benefits developed countries rather than developing

(a)

nations

(b)

sector

(c)

economies

(d)

none of these

Removing barriers or restrictions set by the government is called

(a)

liberalisation

(b)

privatisation

(c)

disinvestment

(d)

globalisation

State the branches of New Economic Policy.

What is Privatization?

Mention any two disadvantages of Liberalisation.

Give any two advantages of Globalisation.

What do you mean by Globalization?

What do you mean by Liberalisation?

State any three impacts on Globalisation.

Write a short note on New Economic Policy.

What is meant by public Sector Units (PSU)s ?

What are highlights of the LPG Policy? (Any 5)

Explain the advantages and disadvantages of liberalisation.(any 5)

Explain the impact of LPG on Indian Economy.

Explain the forms of Privatization.

Explain the advantages and disadvantages of globalization.