Foreign trade is an open opportunity for both producers and buyers to go beyond internal markets and reach global international markets. Goods travel from one country to another which generates healthy competition among producers of various countries as well as buyers across the world. Therefore, foRead more
Foreign trade is an open opportunity for both producers and buyers to go beyond internal markets and reach global international markets. Goods travel from one country to another which generates healthy competition among producers of various countries as well as buyers across the world. Therefore, foreign trade leads to the integration of markets across countries.
For example, the automobile industries in India have the option of importing cars from various car manufacturers. This provides an opportunity for the sellers to expand their business. With the liberalisation of foreign trade, electronic goods like digital cameras, laptop, smartphones have flooded the Indian market and give good opportunities to the buyer to select the item of their choice.
Liberalisation of trade and investment policies has helped the globalisation process by easing the process of foreign trade and investment. Earlier, various developing countries had their own set of barriers and restrictions on imports and investments from abroad to protect the interest of domesticRead more
Liberalisation of trade and investment policies has helped the globalisation process by easing the process of foreign trade and investment. Earlier, various developing countries had their own set of barriers and restrictions on imports and investments from abroad to protect the interest of domestic production. However later on, the barrier had to be removed to promote improvement in the quality of domestic goods. Import duties have been reduced, measures are being taken to ease the flow of foreign capital into the country, entry of MNC’s and Foreign direct investment and foreign funds encouraged to flow in.
Liberalization has given the power to make decisions of import and export in the hands of producers from all around the globe. This has led to a deeper integration of national economies into one conglomerate whole. It has also encouraged healthy competition among producers which has benefitted the consumer at large.
The impact of globalisation has not been uniform”. It has only worked in favour of skilled and professional person in urban areas and has not been of much benefit to the unskilled persons. The industrial and service sector has much gained in globalisation than in agriculture. Some have gained from sRead more
The impact of globalisation has not been uniform”. It has only worked in favour of skilled and professional person in urban areas and has not been of much benefit to the unskilled persons. The industrial and service sector has much gained in globalisation than in agriculture. Some have gained from successful tie-ups with foreign companies. It benefited MNCs on domestic producers and the industrial working class. The consumers, particularly the economically higher sections in the urban areas have gained advantage as they have wide variety to choose from and enjoy the improved quality at lower prices for several goods. Small producers of goods such as batteries, capacitors, plastics, toys, tyres, dairy products and vegetable oil have been hit hard by competition from cheaper imports.
Developed countries want developing countries to liberalise their trade as well as investment because then the MNCs of the developed countries can set up their factories in less-expensive developing countries, and then increase their profits, lowering the manufacturing costs and the same sale price.Read more
Developed countries want developing countries to liberalise their trade as well as investment because then the MNCs of the developed countries can set up their factories in less-expensive developing countries, and then increase their profits, lowering the manufacturing costs and the same sale price. If the Indian government imposes a tax on imported goods, then the price of the goods will be higher for the consumer. As a result, the consumer will choose buying the goods produced in the local market. Subsequently, there will be no demand for the goods that are imported and developed countries will not able to sell their goods in developing countries.
In return for liberalisation of trade laws, the producers of the developing countries are asking for a ‘fair trade’. The developing countries should demand for some type of protection of domestic producers from competition created by imported goods. Moreover, charges should be levied on MNCs looking to set up base in developing nations. MNC’s setting up their bases in developing countries should also be forced to work for the development of the country.
Multinational Corporations (MNCs) are coming up with factories or production units close to markets where they have easy availability of desired type of skilled or unskilled labour at low costs along with other factors of production. After ensuring these conditions MNCs set up production units in thRead more
Multinational Corporations (MNCs) are coming up with factories or production units close to markets where they have easy availability of desired type of skilled or unskilled labour at low costs along with other factors of production. After ensuring these conditions MNCs set up production units in the following ways:
• MNCs are having tie-ups with local companies to capture large market share.
• Acquire the local companies and then expand its production with the help of advances technology they possess.
• They delegate orders to small producers and sell these products under their own brand name to the customers worldwide at a much higher price.
• They get cheap labour to work for them in masses and produce large volumes to sell.
• Through the above ways, MNC’s are exerting a strong influence on production at distant locations.
How does foreign trade lead to integration of markets across countries? Explain with an example other than those given here.
Foreign trade is an open opportunity for both producers and buyers to go beyond internal markets and reach global international markets. Goods travel from one country to another which generates healthy competition among producers of various countries as well as buyers across the world. Therefore, foRead more
Foreign trade is an open opportunity for both producers and buyers to go beyond internal markets and reach global international markets. Goods travel from one country to another which generates healthy competition among producers of various countries as well as buyers across the world. Therefore, foreign trade leads to the integration of markets across countries.
For example, the automobile industries in India have the option of importing cars from various car manufacturers. This provides an opportunity for the sellers to expand their business. With the liberalisation of foreign trade, electronic goods like digital cameras, laptop, smartphones have flooded the Indian market and give good opportunities to the buyer to select the item of their choice.
For more answers visit to website:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/
How has liberalisation of trade and investment policies helped the globalisation process?
Liberalisation of trade and investment policies has helped the globalisation process by easing the process of foreign trade and investment. Earlier, various developing countries had their own set of barriers and restrictions on imports and investments from abroad to protect the interest of domesticRead more
Liberalisation of trade and investment policies has helped the globalisation process by easing the process of foreign trade and investment. Earlier, various developing countries had their own set of barriers and restrictions on imports and investments from abroad to protect the interest of domestic production. However later on, the barrier had to be removed to promote improvement in the quality of domestic goods. Import duties have been reduced, measures are being taken to ease the flow of foreign capital into the country, entry of MNC’s and Foreign direct investment and foreign funds encouraged to flow in.
Liberalization has given the power to make decisions of import and export in the hands of producers from all around the globe. This has led to a deeper integration of national economies into one conglomerate whole. It has also encouraged healthy competition among producers which has benefitted the consumer at large.
For more answers visit to website:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/
“The impact of globalisation has not been uniform.” Explain this statement.
The impact of globalisation has not been uniform”. It has only worked in favour of skilled and professional person in urban areas and has not been of much benefit to the unskilled persons. The industrial and service sector has much gained in globalisation than in agriculture. Some have gained from sRead more
The impact of globalisation has not been uniform”. It has only worked in favour of skilled and professional person in urban areas and has not been of much benefit to the unskilled persons. The industrial and service sector has much gained in globalisation than in agriculture. Some have gained from successful tie-ups with foreign companies. It benefited MNCs on domestic producers and the industrial working class. The consumers, particularly the economically higher sections in the urban areas have gained advantage as they have wide variety to choose from and enjoy the improved quality at lower prices for several goods. Small producers of goods such as batteries, capacitors, plastics, toys, tyres, dairy products and vegetable oil have been hit hard by competition from cheaper imports.
For more answers visit to website:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/
Why do developed countries want developing countries to liberalise their trade and investment? What do you think should the developing countries demand in return?
Developed countries want developing countries to liberalise their trade as well as investment because then the MNCs of the developed countries can set up their factories in less-expensive developing countries, and then increase their profits, lowering the manufacturing costs and the same sale price.Read more
Developed countries want developing countries to liberalise their trade as well as investment because then the MNCs of the developed countries can set up their factories in less-expensive developing countries, and then increase their profits, lowering the manufacturing costs and the same sale price. If the Indian government imposes a tax on imported goods, then the price of the goods will be higher for the consumer. As a result, the consumer will choose buying the goods produced in the local market. Subsequently, there will be no demand for the goods that are imported and developed countries will not able to sell their goods in developing countries.
In return for liberalisation of trade laws, the producers of the developing countries are asking for a ‘fair trade’. The developing countries should demand for some type of protection of domestic producers from competition created by imported goods. Moreover, charges should be levied on MNCs looking to set up base in developing nations. MNC’s setting up their bases in developing countries should also be forced to work for the development of the country.
For more answers visit to website:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/
What are the various ways in which MNCs set up, or control, production in other countries?
Multinational Corporations (MNCs) are coming up with factories or production units close to markets where they have easy availability of desired type of skilled or unskilled labour at low costs along with other factors of production. After ensuring these conditions MNCs set up production units in thRead more
Multinational Corporations (MNCs) are coming up with factories or production units close to markets where they have easy availability of desired type of skilled or unskilled labour at low costs along with other factors of production. After ensuring these conditions MNCs set up production units in the following ways:
• MNCs are having tie-ups with local companies to capture large market share.
• Acquire the local companies and then expand its production with the help of advances technology they possess.
• They delegate orders to small producers and sell these products under their own brand name to the customers worldwide at a much higher price.
• They get cheap labour to work for them in masses and produce large volumes to sell.
• Through the above ways, MNC’s are exerting a strong influence on production at distant locations.
For more answers visit to website:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/