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Globalisation and the Indian Economy
Social Science · CBSE Class 10 · English Medium · 5 questions and answers
Sample questions
- Q: What is globalisation?
- A: Globalisation is the process of rapid integration or interconnection between countries, through greater movement of goods, services, investments, technology and people across countries.
- Q: What factors have enabled globalisation?
- A: Rapid improvement in technology (especially transportation and information and communication technology) and liberalisation of foreign trade and investment policies have been major factors enabling globalisation.
- Q: What is the role of information and communication technology (IT) in globalisation?
- A: Telecommunication, computers and the internet have made it possible to communicate instantly across the world, to access and share information, and to coordinate production spread across distant locations.
- Q: What is a trade barrier? Give an example.
- A: A trade barrier is a restriction used by governments to increase or decrease (regulate) foreign trade, for example tax on imports; the Indian government put barriers after Independence to protect domestic producers.
- Q: What is liberalisation of trade?
- A: Removing the barriers or restrictions set by the government on foreign trade is known as liberalisation; with liberalisation, businesses are allowed to make decisions freely about imports and exports.
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