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Globalisation and the Indian Economy Assignments Class 10 Social Science
ONE MARK QUESTIONS
Question. What is meant by trade barrier?
Ans : Restrictions set by the government to increase or decrease (regulate) the foreign trade is what called trade barrier.
Question. Give the meaning of globalisation.
Ans : It can be defined as process of rapid interconnection or integration between the international market.
Question. Why did the Indian government remove barriers to a large extent on foreign trade and foreign investment?
Ans : The Indian government removed barriers to a large extent on foreign trade and foreign investment so that the Indian companies could compete in the international market.
Question. When did India adopted the new economic policy?
Ans. Agriculture sector.
Question. What is foreign investment?
Ans. Foreign investment is when a company or individual from one nation invests in assests or ownership stakes of company based in another nation.
Question. What is WTO?
Ans. W.T.O (World Trade Organization) It is an organization which is in favour of increasing the world trade through globalization.
Question. What is Privatization?
Ans. Privalization: The transfer of ownership, property or business from the government to the private sector is termed privalization.
Question. Which sector of economy is still lagged behind even after the globalization?
Ans. Agriculture sector.
Question. What is the meaning of investment?
or
Define the term investment.
Ans : Investment can be defined as money spent for buying the inputs for the production like land, buildings, machines etc.
Question. The full form of WTO is ……………………..
Ans. World trade organization
Question. ………………… means allowing the private sector to set up industries which were earlier reserved for the public sector.
Ans. Privatization
Question. …………… is the indian manufacturer with which ford motors have entered in the indian automobile business.
Ans. Mahindra and Mahindra
Question. The new economic policy was adopted by india in ……………..
Ans. 1992
Question. Globalisation has posed the major challenges for:
(a) Big producers
(b) Small producers
(c) Rural poor
(d) None of these
Ans. (b) Small producers
THREE MARKS QUESTIONS
Question. What is a trade barrier? Why did the Indian government put trade barriers after independence? Explain.
Ans : Restrictions set by the government to increase or decrease (regulate) the foreign trade is what called trade barrier.
Due to the following reasons the Indian government put barriers to foreign trade and foreign investment after independence:
a. The Indian government wanted the domestic producers to face the global competition.
b. By this competition the Indian producers will also get a chance to improve their quality.
c. Removal of trade barriers will allow the producers of different countries to trade with India.
Question. Explain with three examples how top Indian companies have benefitted from globalisation?
Ans : It is true to say that the top Indian companies have benefitted from globalisation. The three examples are:
a. The top Indian companies are benefitted from the competition.
b. The top Indian companies invested in the newer technologies and production methods and thus increased their production tremendously.
c. Some of the top Indian companies like the Tata Motors and Infosys have spread their unit worldwide.
Question. Explain any three conditions that determine MNCs setting up production in other countries.
Ans : The three conditions that determine MNCs setting up production in other countries are:
a. They set up their production units where there is easy availability of cheap and skilled labour.
b. They look for the locations from the markets are close so that they will have to pay less transportation cost in supplying the final goods to the consumers.
c. They set up their business in the countries where the government policies are favourable for them. Such as in India the Indian government has given them the benefit of flexibility in labour laws.
Question. Explain any four ways in which globalisation and pressure of competition has changed the lives of workers substantially.
Ans : The four ways in which globalisation and pressure of competition has changed the lives of workers substantially are:
a. MNCs helped in reducing the unemployment in India.
b. It provided job opportunities to the people.
c. It helped in improving the standard of living of the workers.
d. It has given opportunity to the workers to move out from the primary sector and helped in their economic growth.
Question. How has transportation technology stimulated the globalisation process-? Explain with suitable examples.
Ans : Development in technology is one of the most important factor that has enabled the process of globalization.
Developments in transport technology: the world has done tremendous improvements in the field of transportation technology. Now we have different fastest means of transport with the help of which we can reach to different parts of the world in less time and can control trade and integrate the markets easily.
Question. “Technology has stimulated the globalisation process.” Support the statement with examples.
or
“Information and Communication Technology has played a major role in spreading our production of services across countries”. Justify the statement with examples.
or
How has Information and Technology stimulated globalisation process? Explain with examples.
Ans : It is true to say that the Information and Communication Technology has played a major role in spreading our production of services across countries. Development in technology is one of the most important factors that has enabled the process of globalization. It can be studied under two different headings:
a. Developments in transport technology: The world has done tremendous improvements in the field of transportation technology. Now we have different fastest means of transport with the help of which we can reach to different parts of the world in less time and can control trade and integrate the markets easily.
b. Developments in ICT (Information and Communication Technology): It includes telephones, mobile phones, computers, internet, fax, e-mails etc. A remarkable development can be seen in the field of ICT throughout the world. Now the world is just a click away. With the help of ICT we can share and obtain information instantly across the globe at negligible cost.
Question. Explain how globalisation can be made fairer.
Ans : The government can play the following roles to make the globalisation fairer:
a. Government policies should protect both rich and the poor.
b. Labour laws should be implemented properly and the workers get equal rights.
c. Government should support the small producers so that they can improve their performance and compete.
d. Government should use trade barriers if required.
e. Government should negotiate the WTO for fairer rules.
f. All the developing countries government should group together to fight against the developed countries at WTO.
g. Governments can campaign and protest regarding the unfair rules.
Question. “Information and communication technology has played a major role in spreading out products and services across countries.” Support the statement.
Ans : It is true to say that Information and communication technology has played a major role in spreading out products and services across countries. Developments in ICT (Information and Communication Technology): It includes telephones, mobile phones, computers, internet, fax, e-mails etc. a remarkable development can be seen in the field of ICT throughout the world. Now the world is just a click away. With the help of ICT we can share and obtain information instantly across the globe at negligible cost.
Question. Explain the role of government in making globalisation fair.
Ans : The government can play the following roles to make the globalisation fairer:
a. Government policies should protect both rich and the poor.
b. Labour laws should be implemented properly and the workers get equal rights.
c. Government should support the small producers so that they can improve their performance and compete.
d. Government should use trade barriers if required. e. Government should negotiate at the WTO for fairer rules.
f. All the developing countries government should group together to fight against the developed countries at WTO.
g. Governments can campaign and protest regarding the unfair rules.
Question. What has been the impact of globalisation on India? Explain.
Ans : Globalisation has its deep impact on India. The impact of globalization has not been uniform in the Indian economy as different people are affected in a different way. The impact of globalization can be noticed, on these people:
a. Producers: big producers who join hands with the MNCs are getting the profit but the small producers face loss and in many cases they have to shut down their business.
b. Workers: MNCs helped in reducing the unemployment in India but as MNCs get flexibility in labour laws so they hire the workers on temporary basis.
c. Buyers: MNCs produce mostly for the rich buyers so the rich buyers get choices in the market more than the poor buyers.
Question. What are the benefits of the foreign trade to producers and consumers?
Ans : Globalisation has been advantageous to both the producers as well as the consumers in India. Producers: there are two types of producers. Large producers and small producers. The big producers who join hands with the MNCs are getting the profit but the small producers face loss because they are not able to compete with the large producers. The large producers manipulate the market. They influence the price, labour, working conditions etc. So in many cases they have to shut down their business. Consumers:
a. They get different brands of the product.
b. They get the goods and services at cheaper rate. c. They get better quality products.
Question. What is globalisation? Describe the role of MNCs in promoting globalisation process.
Ans : Globalisation can be defined as the process of rapid interconnection or integration between the markets.
MNCs play a vital role in promoting globalisation process as: By producing Goods and services at global level.
a. Goods and services and sold at global level. Investments, technology and people are moving between countries.
b. It gives opportunity to the local producers to reach beyond the domestic market.
c. MNCs by the foreign trade connects/ integrates the markets in the world.
Question. “Globalisation and greater competition among producers has been advantageous to consumers.” Support the statement with examples.
Ans : Yes, it is true to say that the Globalisation and greater competition among producers has been advantageous to consumers because:
Consumers:
a. They get different brands of the product.
b. They get the goods and services at cheaper rate.
c. They get better quality products.
Question. Give the meaning of WTO. Mention any two shortcomings of WTO.
Ans : WTO means World Trade Organisation. The two shortcomings of the WTO are:
a. WTO is not able to check the rules made for the free and fair international trade.
b. In practice it can be seen that developing countries follow these rules whereas the developed countries have not liberalized their trade policies.
Question. “The impact of globalisation has not been visualized uniformly among producers and workers.” Support the statement with facts.
Ans : The impact of globalization, has not been uniform among the producers and workers. The impact of globalization can be noticed on these people:
a. Producers: there are two types of producers. Large producers and small producers. The big producers who join hands with the MNCs are getting the profit but the small producers face loss because they are not able to compete with the large producers
b. Workers: MNCs affected the workers in both the ways. MNCs helped in giving employment to the workers and improved their economic conditions but at the same time MNCs due to flexibility in labour laws hire the workers on temporary basis and their job is not secured.
c. The large producers manipulate the market. They influence the price, labour, working conditions etc. So in many cases they have to shut down their business.
Question. How do Multinational Companies manage to keep the cost of production of their goods low? Explain with examples.
Ans : Due to the following reasons the Multinational Companies manage to keep the cost of production of their goods low:
a. They set up their production units where there is easy availability of cheap and skilled labour.
b. They look for the locations from the markets are close so that they will have to pay less transportation cost in supplying the final goods to the consumers.
c. They set up their business in the countries where the government policies are favourable for them. Such as in India the Indian government has given them the benefit of flexibility in labour laws.
Question. Explain any three advantages of globalisation.
Ans : The three advantages of globalisation are:
a. The producers are getting an opportunity to reach beyond the domestic market.
b. The workers are getting more job opportunities.
c. The consumers are getting variety of brands with quality and cheaper prices.
Question. What are the harmful effects of MNCs to a host country? Give three examples.
Ans : The harmful effects of MNCs to a host country are:
a. They have to provide a world class facility to these MNCs.
b. They have to ensure flexibility in labour laws.
c. The local small producers are hit hard and have to shut down due to the competition with the MNC.
Question. Explain the role of information technology in globalisation.
Ans : The role of information technology in globalisation:
a. Development in technology is one of the most important factor that has enabled the process of globalization.
b. Developments in ICT (information and communication technology) includes telephones, mobile phones, computers, internet, fax, e-mails etc. a remarkable development can be seen in the field of ICT throughout the world.
c. Now the world is just a click away. With the help of ICT we can share and obtain information instantly across the globe at negligible cost.
Question. What would happen if government of India puts heavy tax on import of Chinese toys? Explain any three points.
Ans : The following are the three possible effects if government of India puts heavy tax on import of Chinese toys:
a. The price of the Chinese toys in the Indian market will rise.
b. Due to the high price there will be less number of buyers.
c. The Chinese toys market in India will shrink and the India toy makers will expand their market.
Question. How has foreign trade been integrating markets for different countries in the world? Explain with examples.
Ans : Foreign trade means trade with other countries. When we trade with other countries then we connect with the markets of different countries. For example, Chinese toys in the Indian market. In this process the goods and services and produced and sold at global level. There is movement of technology and people between the countries. It gives opportunity to the local producers to reach beyond the domestic market. Buyers get different choice, price and quality.
An MNC from USA producing the industrial equipment is designing its product in the research centres of the US, its components are manufactured in China, the assembling and the export work is done from Mexico and Eastern Europe and its call centres are there is India.
FIVE MARKS QUESTIONS
Question. How do we feel the impact of globalization on our daily life? Explain with examples.
Ans : This is true to say that now there is wide ranging choice of goods available in the Indian markets. It is possible due to the policy of liberalisation, privatization and globalisation followed by India since 1991. Before 1990, we had limited brands and limited variety of products in the market but now the market is flooded with variety of brands. For example, earlier we had just Ambassador and Fiat cars on the Indian roads but now we have so many brands from all over the world,. The same happened in the field of T.V, mobile phones, garments etc.
Question. Define ‘Globalisation’. Describe any four benefits of globalisation to the Indian economy.
Ans : Globalisation can be defined as the process of rapid interconnection or integration between the markets.
The four benefits of globalization to the Indian economy are:
a. Producers: The big producers who join hands with the MNCs are getting the profit and expanded their, business across the globe.
b. Workers: MNCs helped in reducing the unemployment in India.
c. Buyers: The buyers are getting variety of brands with quality at cheaper rates.
d. The Indian producers are getting an opportunity to reach beyond the domestic market.
e. The Indian producers got foreign invest¬ment and newer technologies from the MNCs.
Question. “Fair globalisation would create opportunities for all and also ensure that benefits of globalisation are shared better.” Support the statement.
Ans : Yes, it is true to say that Fair globalisation would create opportunities for all and also ensure that benefits of globalisation are shared better.
a. At present the globalisation is not free and fair. The developed countries are dominating over the developing countries. The MNCs have huge wealth and thus they influence the labour, price and market conditions.
b. In practice it can be seen that developing countries follow the rules whereas the developed countries have not liberalized their trade policies.
c. Also it is seen that the MNCs are producing goods mostly for the rich buyers. The workers are not getting permanent jobs due to the policies like flexibility in labour laws.
d. MNCs have better technology and capital investment which makes them superior in the market and the other producers are out of the race.
Question. How have our markets been transformed in recent years? Explain with examples.
Ans : This is true to say that now there is wide ranging choice of goods are available in the Indian markets.
It is possible due to the policy of liberalisation, privatisation and globalisation followed by India since 1991. Before 1990, we had limited brands and limited variety of products in the market but now the market is flooded with variety of brands. For example, earlier we had just Ambassador and Fiat cars on the Indian roads but now we have so many brands from all over the world. The same happened in the field of TV, mobile phones, garments etc.
Question. Explain by giving examples how multinational corporations are spreading their products in different ways.
or
How are multinational corporations spreading their products? Explain with examples.
Ans : The following are the three ways in which multinational corporations are spreading their products in different ways:
a. Buying up the local companies: This is most common route for MNC investment and expanding production. MNCs can do so because they have huge wealth. For example: Cargill Foods an American MNC has bought Indian company named Parakh Food. Now the control on the large marketing network and the four oil refineries has shifted to the Cargill Food. Cargill Food has now become the largest producer of edible oil in India.
b. Joining hand with local companies: Sometimes the MNCs join hands with the local companies and do the production. In this process, the local companies get twin benefits:
(i) they get foreign investment and
(ii) MNCs provide newer technology to them for the production.
For example: In 1995, Ford Motors an American company joined hand with the Indian company called Mahindra and Mahindra (manufacturer of jeeps and trucks).
c. By placing orders: Sometimes MNCs just place orders with small producers around the world for the production of garments, footwear and sports items. After that, the products are supplied to the MNCs and sold under the brand name of the MNCs.
Question. Analyse any five positive effects of globalization on the Indian economy.
Ans : The five positive effects of globalization on the Indian economy are:
a. Producers: The big producers who join hands with the MNCs are getting the profit and expanded their business across the globe.
b. Workers: MNCs helped in reducing the unemployment in India.
c. Buyers: The buyers are getting variety of brands with quality at cheaper rates.
d. The Indian producers are getting an opportunity to reach beyond the domestic market.
e. The Indian producers got foreign investment and newer technologies from the MNCs.
Question. How has globalisation benefitted India? Explain with five examples.
Ans : The process of globalisation has benefitted India in the following ways:
Consumers:
a. They get different brands of the product.
b. They get the goods and services at cheaper rate.
c. They get better quality products.
Producers:
a. The local producers joining hands with MNCs get a chance to expand their business.
b. They get the newer technology from the MNCs.
c. They get the investment done by MNCs in their companies.
Workers:
a. MNCs helped in reducing the unemployment in India.
b. It provided job opportunities to the people,
c. It helped in improving the standard of living of the workers.
Question. How is the government of India trying to attract more foreign investment? Explain with examples.
Ans : The government of India trying to attract more foreign investment through the following ways:
a. SEZ (Special Economic Zone): Governments are creating SEZs where they provide world class facilities for electricity, roads, water, transport, recreational and educational facilities. MNCs will not have to pay taxes for the initial period of five years if they set up their production units in the SEZs.
b. Flexibility in Labour Laws: Governments has given the permission to the MNCs to hire the workers flexibly i.e., hiring the workers on temporary basis and also ignoring the labour laws. This will help the MNCs in reducing their labour cost and the total cost of production.
Question. Describe the impact of globalisation on Indian economy with examples.
Ans : The impact of globalization on the Indian economy can be noticed both as positive and negative. These are:
Positive impact:
a. Producers: The big producers who join hands with the MNCs are getting the profit and expanded their business across the globe.
b. Workers: MNCs helped in reducing the unemployment in India.
c. Buyers: The buyers are getting variety of brands with quality at cheaper rates.
d. The Indian producers are getting an opportunity to reach beyond the domestic market.
e. The Indian producers got foreign investment and newer technologies from the MNCs.
Negative impact:
a. The local small producers are not able to compete with the MNCs and they have to shut down their business.
b. Mostly MNCs produce goods and services for the rich people so the poor people are not able to enjoy the benefits of globalisation much.
c. Due to the globalisation the MNCs don’t hire the workers on permanent basis. They use flexibility in labour law policy.
Question. Describe any five factors that promote the MNCs to set up their production units in a particular place.
Ans : The five factors that promote the MNCs to set up their production units in a particular place are:
a. They set up their production units where there is easy availability of cheap and skilled labour.
b. They look for the locations from the markets are close so that they will have to pay less transportation cost in supplying the final goods to the consumers.
c. They set up their business in the countries where the government policies are favourable for them. Such as in India the Indian government has given them the benefit of flexibility in labour laws.
d. MNCs set up their units where they get easy availability of raw materials.
e. They start their offices and get world class facilities like education, health and concession on tax.
