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Introduction of Liberalisation, Privatisation and Globalisation Video Lecture | Economics Class 12 - Commerce
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FAQs on Introduction of Liberalisation, Privatisation and Globalisation Video Lecture - Economics Class 12 - Commerce
| 1. What is liberalisation, privatisation, and globalisation? |  |
Ans. Liberalisation refers to the relaxation of government regulations and restrictions, privatisation involves transferring ownership of state-owned enterprises to private entities, and globalisation is the process of increased interconnectedness and interdependence among countries.
| 2. How have liberalisation, privatisation, and globalisation impacted the economy? | |
Ans. These policies have led to increased competition, efficiency, and innovation in the economy. However, they have also resulted in income inequality, job displacement, and environmental degradation.
| 3. What are some examples of countries that have successfully implemented liberalisation, privatisation, and globalisation? | |
Ans. Countries like India, China, and Singapore have experienced significant economic growth after adopting these policies. They have attracted foreign investment, improved infrastructure, and increased trade with other nations.
| 4. What are the potential drawbacks of liberalisation, privatisation, and globalisation? | |
Ans. Some of the drawbacks include the exploitation of labor, loss of cultural identity, and dependence on foreign markets. These policies can also lead to financial crises, as seen in the 1997 Asian Financial Crisis.
| 5. How do liberalisation, privatisation, and globalisation affect developing countries? | |
Ans. Developing countries often struggle to compete in a globalised economy due to their limited resources and infrastructure. While these policies can attract foreign investment and technology transfer, they can also exacerbate income inequality and weaken domestic industries.
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Nov 23, 2024 Last updated |
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