NCERT Solutions for Class 10 Social Science History Chapter 4
Social Science Class 10 Economics
Globalisation and the Indian Economy 4
Important NCERT Questions Based on new NCERT Books for Session 2022-2023
Questions No: 1
What do you understand by globalisation? Explain in your own words.
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Globalization is a term that describes how the world is becoming more connected and interdependent. It’s like a network where countries, economies, and people are increasingly linked together. This connection happens through trade, technology, communication, culture, and finance on a global scale.
Think of it as the world getting smaller because of advancements in technology and communication. This makes it easier for countries to trade goods and services, share ideas, and communicate instantly. For example, a smartphone made in one country might have parts from several countries, and people from different parts of the world can buy and use it.
One important aspect of globalization is how it affects cultures. With increased connections, cultures often mix and influence each other. This can be seen in the foods we eat, the music we listen to, and even the clothes we wear, as they often reflect a blend of various cultural influences.
Globalization also has its ups and downs. On the positive side, it opens doors for economic growth, technological advancements, and the sharing of diverse ideas and knowledge. However, it also brings challenges like economic inequality between different regions and the risk of losing some unique cultural traditions in the face of global influences.
In a nutshell, globalization means the world is becoming more connected. It allows for easier exchange of goods, ideas, and cultures among countries. It’s like a big web linking people and nations together, impacting how we live, trade, and interact with each other on a global scale.
(i) Globalisation is the process of integration and interaction among the people, companies and government of different nations, a process driven by international trade and investment and aided by information technology.
(ii) Under globalisation the countries that hitherto closed to trade and foreign investment open up their economics and go global. The result is an increasing interconnectedness and integration of economic of the world.
(iii) Under globalisation more and more goods and services, investments and technology are moving between countries.
(iv) In addition to goods, services, investment and technology, there is movement of people who move from one country to another in search of better income, better jobs, or better education.
Globalisation is the process by which businesses or other organizations develop international influence or start operating on an international scale. Globalisation is integrating the economy of a country with the economies of other countries under conditions of free flow of trade, capital and movement of persons across borders. It involves interaction between people, companies, and governments across the world. Globalization has grown due to advances in transportation and communication technology. It includes
• Increase in foreign trade
• Export and import of new technology
• Flow of capital and finance from one country to another
• Migration of people from one country to another.
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