NCERT Solutions for Class 10 Social Economics Chapter 4 Globalisation and the Indian Economy
NCERT Solutions for Class 10 Social Economics Chapter 4 Globalisation and the Indian Economy Page 72: Question 1: What do you understand by globalisation? Explain in your own words. Answer: Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. Under globalization the countries that hitherto closed to trade and foreign investment open up their economies and go global. The result is increasing interconnectedness and integration of the economies of the world. Under globalization more and more goods and services, investments and technology are moving between countries. In addition to goods, services, investments, and technology, there is a movement of people who move from one country to another in search of better income, better jobs or better education. Question 2: What was the reason for putting barriers to foreign trade and f...