Statement & Assumption — In the present globalised scenario, it is time for a total overhaul of the system. Which assumptions are implicit? I. The prevailing system is not suitable for the necessities of a globalised economy. II. “Globalisation” is merely a buzzword of the new world order.

Introduction / Context:
The statement recommends a “total overhaul of the system” explicitly because of a “present globalised scenario.” In assumption questions, we identify which hidden beliefs must hold true for the recommendation to make basic sense. If the current system already fit global needs, a total overhaul would be unnecessary.

Given Data / Assumptions:

• Context: globalised economy and its demands.
• Claim: overhaul of the existing system is timely/necessary.
• Unstated: the fitness of the current system and the role of “globalisation.”

Concept / Approach:
An assumption is implicit if, when denied, the original statement loses force. The overhaul recommendation presumes the present system is inadequate relative to global requirements (Assumption I). By contrast, calling globalisation a “buzzword” (Assumption II) trivialises the very driver invoked to justify overhaul; that cannot be a necessary belief behind the recommendation.

Step-by-Step Solution:
Deny I: If the current system already suits a globalised economy, a full overhaul is wasteful; the statement collapses. Hence I is implicit.Deny II: If globalisation is not merely a buzzword but a substantive force, the recommendation stands. Therefore II is not required and, if taken as a mere buzzword, would actually undercut the argument.

Verification / Alternative check:
Policy overhauls typically arise from perceived misfit between current structures and environmental demands—precisely I.

Why Other Options Are Wrong:
II alone or “either” incorrectly treats a dismissive view of globalisation as necessary. “Neither” ignores the clear misfit premise.

Common Pitfalls:
Confusing a reason for action (serious global pressures) with a dismissive label (“buzzword”).

Final Answer:
Only Assumption I is implicit.