“Outsourcing has become a major feature of globalisation.” This statement is true because outsourcing means hiring services or production from outside the company, often from another country, to reduce costs and increase efficiency. It has become a major trend under ...
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The student correctly concluded that the factory producing sports shoes for a multinational brand is part of the globalised economy, while the small local unit operates only in the domestic market. The two setups differ in several important ways.
MNCs bring investment, technology and employment to India. They promote exports and global business links. However, they may dominate local markets, reduce small-scale businesses and repatriate profits. Overall, MNCs impact both growth and competition.
Banks accept deposits from the public and keep them safe. They lend money to businesses and individuals, earning interest. Banks also provide facilities like savings accounts, loans and payment services, which help in economic growth and financial security.
Sustainable development focuses on meeting present needs without harming future generations. It raises new issues like resource conservation, pollution control and renewable energy. Example: Using solar power reduces fossil fuel use, ensuring development that protects the environment.