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Answer:
- Liberalization may be defined as the release of government controls. Even though sometimes linked with the easing of laws connecting to social troubles such as divorce and abortion, liberalization is most commonly used as an economic word. Specifically, it refers to the decrease in restrictions on international trade and capital
- Privatization is defined as the allocation of publicly operated or publicly owned, which means everything will be under the control of the private owner. The quarrel for this type of transmission is generally that the privately owned enterprises are considered to be the discipline of the marketplace and hence they will be extra efficient and well organized
- Globalization is defined as the rising interdependence of the global economies, population and culture, brought together by cross-border business in technology, goods and services, and increased amount of investment, people, and information
