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Statement: In the present globalised scenario it is time for a total overhaul of the system. Assumptions: I. The prevailing system is not suitable for the necessities of a globalised economy. II. Globalisation is the buzzword of the new world order.

Correct Answer:

Explanation:

I is implicit; that is why the need for overhaul of the system. II is also implicit in the phrase "the present globalised scenario".


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