Question 1: What do you understand by globalization? Explain in your own words.
Answer:
Globalization is the integration of countries through trade, foreign investments by multinational corporations (MNCs), migration, and the flow of capital. It involves increased foreign trade, people moving across borders, and investments from abroad, both public and private.
Question 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?
Answer:
Initially, the Indian government-imposed barriers to foreign trade and investment to shield domestic producers and small industries from global competition. However, later it recognized that foreign competition could drive Indian industrialists to enhance product quality. Consequently, removing these barriers was seen as a means to boost trade and elevate the overall quality of domestically produced goods.
Question 3: How would flexibility in labour laws help companies?
Answer:
Labor law flexibility aids companies by enabling them to attract foreign investments. By hiring workers flexibly for short periods during peak workloads, companies can reduce labor costs. However, foreign companies are seeking even more flexibility in labor laws to enhance profitability. With mounting market competition, failure to accommodate these demands may hinder foreign companies’ ability to achieve desired profit margins.
Question 4: What are the various ways in which MNCs set up, or control, production in other countries?
Answer:
MNCs invest heavily in a country’s economy to establish and manage production units near target markets, benefiting from cheaper labor. To boost output, they often partner with local firms or acquire them outright, expanding production capacity. Additionally, MNCs outsource production to small local producers, enhancing efficiency with technology and heavy machinery.
Question 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?
Answer:
Developed countries push for trade and investment liberalization in developing nations to facilitate MNCs setting up industries there, profiting from lower costs. This includes reduced labor and manufacturing expenses, leading to higher profits. However, increased competition arises when factories are established in developed countries. Developing nations should advocate for fair removal of trade barriers to safeguard their own industries.
Question 6: “The impact of globalisation has not been uniform.” Explain this statement.
Answer:
Globalization has had an uneven impact, with developed countries reaping most of the profits. Developing nations primarily serve as sites for industry setup and cheap labor, with the bulk of profits flowing to developed countries. Small industries in developing nations face ongoing challenges in turning profits and accessing markets.
Question 7: How has liberalisation of trade and investment policies helped the globalisation process?
Answer:
Trade and investment liberalization have been instrumental in advancing globalization by dismantling trade barriers and facilitating foreign trade and investment. This has broadened consumer choices, allowing access to products from both domestic and foreign companies. Increased competition has driven down prices of goods. Liberalization has empowered businessmen with the autonomy to make import and export decisions, thereby fostering globalization.
Question 8: How does foreign trade lead to integration of markets across countries? Explain with an example other than those given here.
Answer:
Foreign trade has integrated markets globally, enabling producers to compete and export goods internationally. This benefits both sellers and buyers, expanding choices beyond domestic options. Increased competition has driven down prices, as producers now vie not only with local rivals but also with those worldwide. Consequently, the Indian market offers a wide array of affordable goods from around the globe.
Question 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.
Answer:
Globalization will persist in the future. Over the next twenty years, expect more efficient production, heightened market competition, advancements across various fields, and improved quality and quantity of goods. This will foster growth in small industries and entrepreneurship, offering them greater opportunities.
Question 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?
Answer:
Globalization offers advantages such as enhanced trade opportunities, increased employment from large-scale industries, expanded profit markets, and boosted imports and exports, leading to lower prices for globally sourced goods.
However, drawbacks include a widening income gap, with the rich benefiting more while small-scale local industrialists struggle to earn significant profits, exacerbating income inequality.
Question 11: Fill in the blanks.
Indian buyers have a greater choice of goods than they did two decades back. This is closely associated with the process of ______________. Markets in India are selling goods produced in many other countries. This means there is increasing ______________ with other countries. Moreover, the rising number of brands that we see in the markets might be produced by MNCs in India. MNCs are investing in India because _____________ ___________________________________________ . While consumers have more choices in the market, the effect of rising _______________ and ______________has meant greater _________________among the producers.
Answer:
Indian buyers have a greater choice of goods than they did two decades back. This is closely associated with the process of globalisation. Markets in India are selling goods produced in many other countries. This means there is increasing trade with other countries. Moreover, the rising number of brands that we see in the markets might be produced by MNCs in India. MNCs are investing in India Because of the cheaper production costs. While consumers have more choices in the market, the effect of rising demand and purchasing power has meant greater competition among the producers.
Question 12: Match the following.
| (i) MNCs buy at cheap rates from small | (a) Automobiles producers |
| (ii) Quotas and taxes on imports are used to regulate trade items | (b) Garments, footwear, sports |
| (iii) Indian companies who have invested abroad | (c) Call centres |
| (iv) IT has helped in spreading of production of services | (d) Tata Motors, Infosys, Ranbaxy |
| (v) Several MNCs have invested in setting up factories in India for production | (e) Trade barriers |
Answer:
| (i) MNCs buy at cheap rates from small producers | (b) Garments, footwear, sports items |
| (ii) Quotas and taxes on imports are used to regulate trade | (e) Trade barriers |
| (iii) Indian companies who have invested abroad | (d) Tata Motors, Infosys, Ranbaxy |
| (iv) IT has helped in spreading of production of services | (c) Call centres |
| (v) Several MNCs have invested in setting up factories in India for production | (a) Automobiles producers |
Question 13: Choose the most appropriate option.
1. The past two decades of globalisation have seen rapid movements in
- goods, services and people between countries.
- goods, services and investments between countries.
- goods, investments and people between countries.
Answer: c. goods, services and investments between countries
2. The most common route for investments by MNCs in countries around the world is to
- set up new factories.
- buy existing local companies.
- form partnerships with local companies.
Answer: c. buys existing local companies
3. Globalisation has led to improvement in living conditions
- of all the people
- of people in developed countries
- of workers in the developing countries
- none of the above
Answer: d. none of the above
🌟 Why Choose CBSEJanta.com for Class 10 Social Science? 🌟
- ✔ Complete NCERT Solutions: Step-by-step solutions for all subjects!
- ✔ Chapter Summaries & Notes: Simplified explanations for quick understanding.
- ✔ Extra Practice Questions: Test yourself with additional exercises and questions.
- ✔ Interactive Learning: Engaging content to make learning Social Science fun!
📲 Download the CBSEJanta App NOW for instant access to Class 10 Social Science solutions, chapter notes, and practice materials. Ace your Social Science exams with CBSEJanta.com—your all-in-one learning guide! 🌟📖