All questions
5
Q1
What is globalisation?
Globalisation is the process of rapid integration and interconnection among countries through movement of goods, services, investment, technology, and people. It links producers and consumers across national boundaries.
Q2
How do multinational corporations spread production across countries?
Multinational corporations spread production by setting up factories or offices where labour, raw materials, markets, or government policies are favourable. They may invest directly, buy local companies, place orders with small producers, or form partnerships.
Q3
How does foreign trade integrate markets?
Foreign trade allows goods produced in one country to be sold in another. It gives buyers more choice and producers access to larger markets. Competition between imported and domestic goods can influence prices and quality.
Q4
What is liberalisation of foreign trade and investment?
Liberalisation means removing or reducing government barriers such as quotas, restrictions, and high taxes on imports and foreign investment. It allows goods and capital to move more freely across countries.
Q5
Explain the mixed impact of globalisation in India.
Globalisation has created opportunities for some producers, workers, service firms, and consumers through new markets, technology, jobs, and choice. But small producers and unorganised workers may face pressure from competition, insecure jobs, and unequal gains.