NCERT Question, Class 10, CBSE SOCIAL SCIENCE,
Economics Chapter: 4 GLOBALISATION AND THE INDIAN ECONOMY
Question No. 2. Page No. 66
NCERT Solutions for Class 10 Social Science
CBSE Class 10 Economics 2023-2024
What do you think can be done so that trade between countries is more fair?
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1. Fair Trade Policies: Governments can create rules that ensure fair practices in trade, preventing unfair advantages for any country. This includes rules against unfair subsidies or selling products below cost (dumping).
2. Reducing Barriers: Countries can lower tariffs and trade barriers, making it easier for all nations to trade equally. This helps smaller businesses and countries participate more in global trade.
3. Protecting Workers: Ensuring fair treatment of workers by setting standards for wages, safe working conditions, and banning child labor. This ensures that products are made ethically.
4. Environmental Protection: Making sure that trade doesn’t harm the environment by setting rules for sustainable production and preventing environmental damage.
5. Supporting Small Businesses: Giving support and encouragement to small businesses helps balance trade by giving them a fair chance to compete with larger corporations.
6. Ethical Sourcing: Encouraging companies to source materials ethically, ensuring that products are made under fair conditions without exploiting workers.
7. Learning and Training: Providing education and help to developing countries helps them understand trade rules better and compete more fairly.
8. Global Agreements: Joining global organizations that promote fair trade, like the World Trade Organization (WTO), helps set fair rules for trade between countries.
9. Educating Consumers: Teaching people about fair trade helps them make choices that support ethical products and fair practices.
By following these steps, countries can work towards creating a fairer and more balanced global trade system, ensuring fairness and equal opportunities for all involved.