Option (C) is correct because globalisation is encouraged when the government reduces trade barriers, lowers import–export taxes and removes restrictions on foreign investment. These steps attract global companies and promote free flow of goods, capital and technology.
Discussion Forum Latest Questions
Option A is correct because in a barter system, trade can only occur when both parties have matching needs. This “double coincidence of wants” makes exchange difficult and restricts trade opportunities, reducing overall economic efficiency and growth.
The World Bank gives priority to Per Capita Income as the main measure of development. It compares countries based on the average income earned per person, helping classify nations as rich, middle-income or poor economies globally. The correct answer is ...
India currently holds the fifth position in the world in terms of GDP, following the USA, China, Japan and Germany. This highlights the rapid economic growth of India and its rising contribution to global production and trade. The correct answer ...
Human Development Index (HDI) is a measure used to compare the overall development of countries. It focuses on three key dimensions — health, education and income — to assess the well-being and quality of life of people. (b) Improvement in ...