Match the following:
| 1. | Globalisation | A. | Consumption based |
| 2. | Privatisation | B. | Outsourcing |
| 3. | Liberalisation | C. | Licensing |
| 4. | Goods and service tax | D. | Disinvestment |
Answer & explanation
Correct answer: option 4
The correct answer is Option 4: 1-B, 2-D, 3-C, 4-A
| 1. | Globalisation | B.Outsourcing | |
| 2. | Privatisation | D.Disinvestment | |
| 3. | Liberalisation | C.Licensing | |
| 4. | Goods and service tax | A.Consumption based | |
Globalisation aims at making the world a borderless place. Privatisation involves disinvestment done by the government. Disinvestment is the change in ownership of the company from government to private because either the whole firm is sold or a part of it is sold to the private players. Liberalisation involves removal of the industrial licensing to increase the competitiveness of various firms. Goods and service tax is a destination based tax that works on the principle of taxing the supply of commodities.