Economics

The correct chronological order of the process is: (C) Plucking of Tendu leaves, (D) Selling Tendu leaves by contractor to Government, (A) Manufacture branding and selling, (E) Auctioning leaves to factory owner, (B) Workers rolling the leaves. This order follows the traditional steps involved in the handling and selling of Tendu leaves.

The correct chronological order of the events is: (A) Mill land being sold to real estate dealers to build luxury apartments, (B) Workers went back to work as they needed money, (C) Bombay Textile strike of 1982, (D) Government refused to entertain their demands.

The concept of 'Failure of entitlement' was introduced by economist Amartya Sen. He highlighted the idea that poverty is not only due to lack of income but also due to the failure of entitlement, meaning the inability of individuals to access the resources necessary for a decent life.

Step 1: Understanding the Concept:
This question requires matching key economic and business terms with their correct definitions.
Step 2: Detailed Explanation:
(A) Privatisation: This is the process of transferring ownership, property, or business from the government (public sector) to the private sector. A key aspect of this is allowing private companies to invest in sectors earlier reserved for the government. (A) matches with (III).
(B) Disinvestment: This is a specific action where a government reduces its stake in a public sector enterprise. It means the government sells its share in public sector companies. (B) matches with (IV).
(C) Tertiary sector: The economy is often divided into three sectors: primary (raw materials), secondary (manufacturing), and tertiary (services). The tertiary sector is the service sector, which includes activities like trade, transport, financial services etc. (C) matches with (I).
(D) Diversification: In business and finance, this is a strategy to manage risk. It involves expanding into different areas, i.e., the spread of investment into different types of economic activities in order to reduce risks. (D) matches with (II).
Step 3: Final Answer:
The correct matching is: (A)-(III), (B)-(IV), (C)-(I), (D)-(II).