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_________ is the outcome of privatisation and liberalisation.( Fill in the blank with correct alternative)
Globalisation
Reforms
Fiscal policy
WTO
- Globalisation: This is the process by which businesses or other organizations develop international influence or start operating on an international scale. It is often a result of privatisation and liberalisation, as these processes open up markets to global competition and investment.
- Reforms: These are changes made to improve a system, organization, or practice. While privatisation and liberalisation involve reforms, "reforms" is too broad to be specifically the outcome of these processes.
- Fiscal policy: This involves government spending and tax policies to influence the economy. It is not directly an outcome of privatisation and liberalisation.
- WTO: The World Trade Organization facilitates international trade and resolves trade disputes between countries. It is not an outcome but rather a supporter of global trade agreements.
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