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Liberalisation, Privatization and Globalization

Very short answer type questions 1 mark each

1. Which of the following was the reason for economic reform in India?
a. Mounting Fiscal deficit.

b. Rise in price level.
c. Huge deficit in balance of payment.
d. All of these.
2. Liberalization implies?

a. Greater role of public sector.
b. Reduction in Government control over the private sector.
c. Free economy with no control.

d. None f these.
3. ________ is the general process of involving the private sector in the
ownership in the operation of state-owned enterprise.

(Privatization / Liberalization / Globalization)
4. ________ refers to forcibly lowering the value of domestic currency in
relation to other currencies in the world by the Government.

(Devaluation/ Deprecation/Appreciation)
5. Which one of the following is not an element of Fiscal reforms?
a. Taxation reforms.
b. Public expenditure reforms.

c. Change in interest rate.
d. Control on public debt.
6. Tariffs are imposed to protect domestic industries and to restrict

imports. (True / False)
7. Fiscal reforms refer to the reforms in country’s monetary and banking
policies. (True/False)

8. Define globalization.
9. Give the meaning of dis-investment.
Short answer type questions (3 to 4 marks each)

10. What makes India a favorite destination for outsourcing?
11. Distinguish between strategic and minority sale.
12. Agriculture sector appears to be adversely affected by reforms process.
Why?