1. What do you understand by globalisation? Explain in your own words.
1. What do you understand by globalisation? Explain in your own words.
Explanation:
The integration of nations through foreign investments and trade made possible by multinational enterprises is referred to as globalisation (MNCs). Globalization is a result of an expansion of international trade, immigration of people between nations, the flow of capital finance, and both private and state investments from other nations
2. What were the reasons for putting barriers to foreign trade and foreign investment by the Indian government? Why did it wish to remove these barriers?
2. What were the reasons for putting barriers to foreign trade and foreign investment by the Indian government? Why did it wish to remove these barriers?
Explanation:
The primary goal of the Indian government's restrictions to international investment and trade was to shield domestic manufacturers and small industrialists from foreign rivalry.
Yet eventually, the government came to understand that reducing these barriers would boost trade and the calibre of goods produced in the nation, since foreign competition would motivate Indian industrialists to improve the quality of their goods.
3. How would flexibility in labour laws help companies?
3. How would flexibility in labour laws help companies?
Explanation:
Companies benefit from flexible labour laws because they draw in international investment. Companies engage people flexibly for brief periods of time when there is high work pressure rather than on a regular basis. To lower the company's labour expense, this is done. Foreign businesses, who are still unsatisfied, are calling for additional latitude in the labour rules. Foreign businesses won't be able to achieve their intended profit levels if the government does not permit flexibility with these regulations because market competition is growing daily.
4. What are the various ways in which MNCs set up, or control, production in other countries?
4. What are the various ways in which MNCs set up, or control, production in other countries?
Explanation:
MNCs invest a sizable sum of money in the economy of a nation to set up and control output. In order to obtain lower labour, it places production facilities close to the marketplace. MNCs work with a few local businesses to boost production since the rate of production would rise quickly. The MNCs typically acquire local businesses and increase their output. They also have control over production by giving production orders to small, regional producers. They aid in manufacturing by utilising machinery and technology, which increases the effectiveness and productivity of the operation.
5. Why do developed countries want developing countries to liberalise their trade and investment? What do you think should the developing countries demand in return?
5. Why do developed countries want developing countries to liberalise their trade and investment? What do you think should the developing countries demand in return?
Explanation:
Because MNCs can establish industries in smaller, developing countries at lower costs and with more profit potential, developed countries encourage developing countries to liberalise their trade and investment policies. Reduced labour and manufacturing expenses lead to higher profits as a result of the cost reduction. Also, locating businesses such as factories and industries in industrialised nations raises rivalry. To safeguard their own sectors, developing nations should, in turn, demand that trade restrictions be fairly removed.
6. “The impact of globalisation has not been uniform.” Explain this statement.
6. “The impact of globalisation has not been uniform.” Explain this statement.
Explanation:
Although mainly wealthy nations have benefited financially from globalisation, its effects have not been equally felt. The industrialised nations are the only ones who profit from setting up enterprises and obtaining cheaper labour in developing nations. Small businesses and industries in emerging nations face ongoing difficulties making a profit and getting their products to market.
7. How has liberalisation of trade and investment policies helped the globalisation process?
7. How has liberalisation of trade and investment policies helped the globalisation process?
Explanation:
The removal of trade obstacles thanks to the liberalisation of trade and investment policy has aided globalisation. It has facilitated international trade and investment. The options available to consumers have increased as well, since they may now choose products made not just by domestic but also by international businesses. The price of goods has decreased as a result of trader competition. Globalization has grown as a result of liberalisation since businessmen now decide what to export and import.
8. How does foreign trade lead to integration of markets across countries? Explain with an example other than those given here.
8. How does foreign trade lead to integration of markets across countries? Explain with an example other than those given here.
Explanation:
The integration of international markets is a result of trade. The producers can now compete and export their items to markets in other nations thanks to international trade. Opportunities are given for both the customer and the vendor to purchase things outside of their own countries. Their options have increased as consumers can now select goods made by both domestic and international businesses.
Due to market rivalry, the cost of these products has fallen. Producers from various nations can now compete not only with domestic rivals but also with those from other nations. Today, the Indian market is swamped with reasonably priced goods from around the world rather than Indian-made goods.
9. Globalisation will continue in the future. Can you imagine what the world would be like twenty years from now? Give reasons for your answer.
9. Globalisation will continue in the future. Can you imagine what the world would be like twenty years from now? Give reasons for your answer.
Explanation:
Future years will see the continuation of globalisation. In twenty years, there will be greater efficiency in the manufacture of commodities, greater market competition, more innovation in every field, and higher levels of both quality and output. The number of small businesses and entrepreneurs will rise as more chances are made available to them.
10. Supposing you find two people arguing: One is saying globalisation has hurt our country’s development. The other is telling, globalisation is helping India develop. How would you respond to these arguments?
10. Supposing you find two people arguing: One is saying globalisation has hurt our country’s development. The other is telling, globalisation is helping India develop. How would you respond to these arguments?
Explanation:
Globalization offers a number of benefits and drawbacks. Improved trade prospects and a rise in employment due to large-scale industries are two benefits of growing globalisation. The nation's economy has seen a surge in imports and exports as well as the profit market. Globally produced goods are more affordable for consumers to purchase.
Due to the inability of small-scale local entrepreneurs to make a significant profit, one of the drawbacks of globalisation is a disproportionate increase in the income of the wealthy and a commensurate fall in the income of the poor. rising income disparity as a result.
11. Match the following.
11. Match the following.
Explanation:
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