Match the following from the set of statements given in Column I and Column II.
| Column- I | Column- II |
| A) Liberalization | I) Greater role to the private sector in the nation building process. |
| B) Legal Environment | II) Decisions rendered by the various commissions. |
| C) Privatization | III) Removal of unnecessary controls and restrictions on business. |
| D) Social environment | IV) Represent customs and traditions, values, social trends etc. |
Choose the correct answer from the options given below.
Answer & explanation
Correct answer: option 4
The correct answer is option 4- A-III, B-II, C-I, D-IV.
| Column- I | Column- II |
| A) Liberalization | III) Removal of unnecessary controls and restrictions on business. |
| B) Legal Environment | II) Decisions rendered by the various commissions. |
| C) Privatization | I) Greater role to the private sector in the nation building process. |
| D) Social environment | IV) Represent customs and traditions, values, social trends etc. |
* Liberalization- Liberalisation is the process or means of the elimination of control of the state over economic activities.
* Legal Environment- The legal environment includes the laws passed by the government as well as the decisions rendered by the various commissions and agencies at every level of the government.
* Privatization- Privatization describes the process by which a piece of property or business goes from being owned by the government to being privately owned.
* Social environment- Social environment is their society and all surroundings influenced in some way by humans. It includes all relationships, institutions, culture, and physical structures.