Please refer to Globalization and The Indian Economy Class 10 Social Science Important Questions with solutions provided below. These questions and answers have been provided for Class 10 Social Science based on the latest syllabus and examination guidelines issued by CBSE, NCERT, and KVS. Students should learn these problem solutions as it will help them to gain more marks in examinations. We have provided Important Questions for Class 10 Social Science for all chapters in your book. These Board exam questions have been designed by expert teachers of Standard 10.
Class 10 Social Science Important Questions Globalization and The Indian Economy
Objective Type Questions
Question. Globalisation does not involve which one of the following?
(a) Rapid integration among the countries.
(b) More goods and services moving between countries.
(c) Increased taxes on imports.
(d) Movement of people between countries for jobs, education, etc.
Answer : (c) Increased taxes on imports.
Question. World Trade Organisation (WTO) is an organisation whose aim is to liberalise
(a) Internal trade
(b) External trade
(c) National trade
(d) International trade
Answer : (d) International trade
Question. What does fair globalisation means? Choose the correct option
(a) Fair opportunities for all
(b) Fair benefits for all
(c) More support to small producers
(d) All of these
Answer : (d) All of these
Question. Which among the following example given in the options has the least possibility of globalization?
(a) Selection of labour force
(b) Increase in infrastructure
(c) To manage resources for investment
(d) Location of capital works
Answer : (d) Location of capital works
Question. What is the major benefit to the local company of a joint production with MNC? Identify the correct option.
(a) Domestic labour gets high wages.
(b) MNC’s can provide money for additional investments.
(c) It helps to reduce production.
(d) Domestic companies started following labour laws.
Answer : (b) MNC’s can provide money for additional investments.
Question. Fill in the blank with suitable option.
Globalisation leads to ……… .
(a) lesser competition among the producers.
(b) greater competition among the producers.
(c) no change in the level of competition among the producers.
(d) None of the above
Answer : (b) greater competition among the producers.
Question. With the growing competition, most employers these days prefer to employ workers ………… .
(a) flexibly
(b) selectively
(c) rationally
(d) None of these
Answer : (a) flexibly
Question. What is the benefit of using containers in transportation of goods? Identify.
(a) Reduction in delays
(b) Reduction in damaged goods
(c) Reduction in port handling costs
(d) All of the above
Answer : (d) All of the above
Question. The Indian government has been following the policy of liberalisation, globalisation and privatisation since ………… .
(a) 1990
(b) 1991
(c) 1992
(d) 1993
Answer : (b) 1991
Question. Enabling producers of one country to sell their goods in other countries is known as
(a) globalisation
(b) trade
(c) foreign trade
(d) None of these
Answer : (c) foreign trade
Question. What do you mean by investment? Choose the correct option.
(a) Money spent on buying assets such as land, building, machines and other equipments.
(b) Money used by owners for luxuries.
(c) Money used for maintaining the factory.
(d) None of the above
Answer : (a) Money spent on buying assets such as land, building, machines and other equipments.
Question. 35 year old Sunil works from 8 am to 8 pm all seven days of the week in a garment exporter firm. He works as a contract labour. His employer does not give him any other facility. He knows that he is employed just for few months of the year but he continues to work as he has no other option. Analyse the information, considering one of the following correct option.
(a) Ill effects of globalisation
(b) MNC’s creating job opportunities
(c) Workers jobs are no longer secure
(d) People are denied fair share of benefits
Answer : (a) Ill effects of globalisation
Question. Which one of the following types of countries has benefitted most from globalisation?
(a) Rich countries
(b) Developed countries
(c) Developing countries
(d) All of these
Answer : (b) Developed countries
Question. Match the following.
Codes
(a) A – 2, B – 4, C – 3, D – 1
(b) A – 3, B – 1, C – 2, D – 4
(c) A – 4, B – 3, C – 2, D – 1
(d) A – 1, B – 4, C – 3, D – 2
Answer : (c) A – 4, B – 3, C – 2, D – 1
Question. India’s maximum foreign exchange is spent on which of the following?
(a) Import of food grains
(b) Import of Petroleum Products
(c) Import of Iron and Steel
(d) Import of Technical know how
Answer : (b) Import of Petroleum Products
Question. Choose the incorrect option about Globalisation from the given statements.
I. Globalisation causes integration of markets as well as production centres.
II. Globalisation has increased migration of people.
III. It has facilitated new and imporved technology by which even local companies can take benefit.
IV. Globalisation has increased trade restrictions among the regions of the world.
Codes
(a) Only I
(b) Both I and II
(c) Only III
(d) Only IV
Answer : (d) Only IV
Assertion-Reason Questions
Directions : Each of these questions contains two statements, Assertion (A) and Reason (R). Each of these questions also has four alternative choices, any one of which is the correct answer. You have to select one of the codes (a), (b), (c) and (d) given below.
Codes
(a) Both A and R are true and R is the correct explanation of A
(b) Both A and R are true, but R is not the correct explanation of A
(c) A is true, but R is false
(d) A is false, but R is true
Question. Assertion (A) Foreign trade creates an opportunity for the producers to reach beyond the domestic markets.
Reason (R) Foreign Trade expands the choice of goods beyond what is domestically produced.
Answer : (a) Both A and R are true and R is the correct explanation of A
Question. Assertion (A) Local businesses may set up joint production process with MNC’s and can earn higher profits.
Reason (R) MNC’s can provide money for additional investments, like buying new machines for faster production.
Answer : (a) Both A and R are true and R is the correct explanation of A
Question. Assertion (A) Globalisation leads to increased competition in international and domestic markets.
Reason (R) Globalisation makes the consumers better off as they have a wider variety of goods to choose from at lower prices.
Answer : (b) Both A and R are true, but R is not the correct explanation of A
Question. Assertion (A) MNC’s can exert a strong influence on production at distant locations.
Reason (R) MNC’s can set up partnerships with local companies, use local companies for supplies, compete with the local companies or buy them up.
Answer : (a) Both A and R are true and R is the correct explanation of A
Question. Assertion (A) Trade barrier is a restriction on the free international exchange of goods or services.
Reason (R) Quotas are a way of restriction on volume or quantity of goods to be imported or exported.
Answer : (b) Both A and R are true, but R is not the correct explanation of A
Short Answer Type Questions
Question. Why had the Indian government put barriers to foreign trade and foreign investments after independence? Analyse the reason.
Answer : Indian government put barriers to foreign trade and foreign investments after independence because
◆ To protect the domestic producers within the country from foreign competition in the form of imports.
◆ To encourage more production of goods so that more industries can be started.
◆ During 1950s and 1960s, Indian industries were just coming up, they were not prepared to face challenges from foreign countries.
Question. What are the various ways in which MNCs set up or control production in other countries?
OR
Explain by giving examples that MNCs are spreading their production in different ways.
Answer : The way in which MNCs control or spread their production are
◆ By Buying Local Companies Large MNCs buy companies that are operating locally. By doing this, they get a good customer base and the local company gets latest technology. For example, Cargill Foods (MNC) merged with Parakh Foods (local).
◆ By Joint Ventures MNCs set-up production units jointly with any company that may be operating in a country. By doing this, MNCs not only increase their production but also get a vast market. For example, Ford Motors set up automobile plant in collaboration with Mahindra and Mahindra.
◆ By Placing Orders with Small Producers MNCs place orders for their products with small producers in developing countries where the resources are cheap. Then the MNCs sell those products under their own brand. Ex Garments, footwear, jeans, footballs, etc.
Question. How has liberalisation of trade and investment policies helped the globalisation process?
Answer : Liberalisation of trade and investment policies has helped in Globalisation in the following ways
◆ This has helped in the import and export of goods. This means that goods can be exported and imported easily and also foreign companies could set up factories and offices here.
◆ Larger foreign investment and larger foreign trade have led to greater integration of production and markets across countries. As a result, more and more companies are coming closer to each other due to MNCs.
◆ Latest technology such as ICT is spread throughout the world due to liberalisation.
Question. How does Government attract foreign investment? Explain different ways.
Answer : Government attracts foreign investment in the following ways
◆ Special Economic Zones have been set up to have world-class facilities such as cheap electricity, roads, transport, storage, etc.
◆ The companies setting their units in SEZs are exempted to pay tax for initial period of five years which increases their profit.
◆ Labour laws are made flexible in SEZs. This has attracted foreign investment.
Question. “Globalisation has been advantageous to consumers as well as to producers.” Support the statement with suitable examples.
Answer : Globalisation has benefitted the producers and the consumers in the following ways
◆ Globalisation has led to an intense increase in industrial competition. As a result, producers are competing over each other to provide better and cheaper services to the consumers. This has also resulted in reduction in the prices.
◆ With the initiation of globalisation, producers now have relatively free access to international markets. Also, they can now avail more easily of the credit facilities forwarded in terms of capital and technology. This is illustrated by the example of the electronics goods and garments industry.
◆ Consumers have more choice of goods and services as compared to earlier times specially in modern digital technological equipments like cell phones, cameras etc.
Question. List the factors that encourage the MNCs to set up their production units at a place.
OR
Why do multinational corporations set up their offices and factories in certain areas only?
Answer : The factors that promote the setting up of MNCs or the reason for setting up MNCs at a certain place are
◆ Availability of skilled and unskilled labour, e.g. India has highly skilled engineers who can understand the technical aspects of production.
◆ Availability of raw materials at cheap prices e.g. China provides the advantage of being a cheap manufacturing location.
◆ Well developed infrastructure like roads and railways
◆ Liberalised governmental policies.
◆ Closeness to markets e.g. Mexico and Eastern Europe are useful for their closeness to the markets in the US and Europe.
◆ Safe environment
Question. What is investment? Name the companies which make foreign investment. Write any two benefits which a local company expects from joint production with a Multinational company.
Answer : The money that is spent to buy assets such as land, building, machines and other equipments is called investment.
The companies which make foreign investment in India are Ford Motors, Nike, Coca-Cola, Pepsi, Honda, Nokia, Tata Motors, Infosys, Ranbaxy, Asian Paints, etc.
The benefits that a local company expects from joint production with a multinational company are
(i) To provide money for additional investments, like buying new machines for faster production.
(ii) To bring with them the latest technology for production.
Question. “Information and Communication Technology (ICT) has played a major role in spreading out products and services across countries.” Support this statement.
Answer : Information and Communication Technological (ICT) has played a major role in spreading out products and services across countries in the following ways
◆ Telecommunication facilities (telegraph, telephone including mobile phones, fax) are used to contact one another around the world, to access information instantly and to communicate from remote areas. This has been facilitated by satellite communication devices.
◆ Computers have started the amazing world of the Internet, where one can obtain and share information on almost anything. It also allows us to send instant electronic mail and (voice-mail) across the world at negligible costs which boosts trade and commerce.
Question. How is stability in jobs for the workers affected due to globalisation?
Answer : The stability in jobs for the workers affected due to globalisation in the following ways
◆ There is no permanent employment, but workers are employed only when needed, i.e. they are ‘flexible workers’. In the slack season, they are out of work with no compensation.
◆ Due to globalisation, the MNC’s main objective is to lower costs. To do this, they provide temporary employment only and are given lower wages or they may have to work on per day basis.
◆ Workers may have to work for longer hours and be laid off from work without any compensation during the slack season.
Question. Explain the facilities available in SEZ that are developed by Central and State governments to attract foreign Investment.
Answer : SEZs are industrial zones set up by the government to promote the establishment of MNCs.
The facilities available in SEZ are
◆ SEZ are provided with world class facilities electricity, water, roads, transport, storage, recreational and educational facilities.
◆ Companies operating in SEZ do not have to pay taxes for five years.
◆ Government has allowed flexibility in the labour laws to attract MNCs.
Question. Describe any four characteristics of WTO.
Answer : The four characteristics of WTO are
(i) World Trade Organisation (WTO) is a powerful international organisation.
(ii) It aims at liberalising international trade.
(iii) It establishes rules regarding international trade and sees that these rules are obeyed.
(iv) WTO is supposed to allow free trade for all countries. But in practice, it is seen that the developed countries have unfairly retained trade barriers.
Question. “Fair globalisation would create opportunities for all and also ensure that benefits of globalisation are shared better.” Support the statement.
OR
How can the government of India play a major role to make globalisation more fair? Explain with examples.
Answer : As fair globalisation would create opportunities for all and also ensure that benefits of globalisation are shared better, the government can play a major role in making globalisation a fair medium in the following ways
◆ By framing policies that protect the interests of not only the rich and powerful but also the weaker sections of the society.
◆ By supporting small producers so that they can compete with large manufacturers.
◆ By ensuring that labour laws are properly implemented and workers get their rights.
◆ By using trade and investment barriers and negotiating for fairer rules at the WTO.
◆ It can also align with other developing countries with similar interests to fight the domination of developed countries in the WTO.
Question. How are local companies benefitted by collaborating with multinational companies? Explain with examples.
Answer : The local companies are benefitted by collaborating with multinational companies in the following ways
(i) MNC’s can finance the additional investments for the local companies like buying new machinery for faster production.
(ii) MNC’s may provide the companies with latest technology for efficient production as MNC’s have an international outreach.
(iii) Local companies will benefit financially through a partnership with an MNC because the production and its efficiency would naturally increase.
Hence, an MNC works at an international level, while local companies have a very small outreach. Therefore, a partnership with such a large company is beneficial for both.
Question. “The impact of globalisation has not been uniform.” Explain this statement.
OR
“The impact of Globalisation has not been uniform.” Explain with examples.
Answer : The impact of globalisation has not been uniform as
◆ Globalisation has increased the sale of consumer goods which are demanded by only a small section of people in developing countries like cell phone, automobile, soft drinks. Large section is still deprived of basic necessities.
◆ Globalisation increases the concentration of economic power and leads to inequalities. It is mainly beneficial to large capitalists, industries and large companies like google. The small scale producers and workers have suffered as a result of rising competition.
◆ Globalisation has changed the nature of employment as now workers are hired on temporary basis and their jobs are no longer secure.
Question. ‘Barriers on foreign trade and foreign investment were removed to a large extent in India since 1991. Justify the statement.
Or
Why did the Indian Government remove barriers to a large extent on foreign trade and foreign investment?
Answer : It is true that barriers on foreign trade and foreign investment were removed to a large extent in India since 1991 because
◆ In 1991, the Government of India liberalised its policy and felt that Indian producers must compete with producers around the world.
◆ The Government had an opinion that trade competition would improve the performance of the local producers within the country since they will be forced to improve their quality.
◆ Another reason was the economic crises in India in 1990-91 and support of WTO and IMF led the government to remove trade barriers.
Long Answer Type Questions
Question. How have our markets been transformed in recent years? Explain with examples.
Answer : Our markets have been transformed in recent years due to the process of globalisation in the following ways
◆ As consumers in today’s world, some of us have a wide choice of goods and services before us. The latest models of digital cameras, mobile phones and televisions made by the leading manufacturers of the world are within our reach.
◆ Every season, new models of automobiles can be seen on Indian roads. Gone are the days when Ambassador and Fiat were the only cars on Indian roads.
◆ Today, due to globalisation and foreign trade, Indians are buying cars produced by nearly all the top companies in the world.
◆ In the similar way, we can see a wide variety of brands in the market place e.g. from shirts to televisions to processed fruit juices and even chocolates and candies.
With the coming of MNCs in India, local companies are now adopting newer technology and production methods. Due to this changing pattern in production consumers in Indian markets are enjoying a much higher standard of living than ever before.
Question. Why do Multinational Corporations (MNCs) set up their offices and factories in certain areas only? Explain any five reasons.
Answer : Multinational Corporations set up their offices and factories in certain areas only due to the following reasons
(i) Availability of Labour The MNCs operate in a country to get cheap labour so they set up their factories where there is easy availability of skilled and unskilled labour.
(ii) Availability of Raw Materials The MNCs set up their factories where they get raw materials easily and at cheap prices.
(iii) Well Developed Infrastructure MNCs set up their offices and factories where there is good infrastructural facilities such as roads, railways, regular supply of electricity etc.
(iv) Liberalised Government Policies When the government encourages investment then it liberalises its trade policies so that MNCs could set up their offices at that place. So, MNCs set up in those areas where they get government support.
(v) Closeness to Markets MNCs set up their offices and industries in those places where there are good markets for selling their finished products. This reduces transportation cost also.
Question. How can consumers and producers be benefited from ‘foreign trade’ ? Explain with examples.
Answer : Consumers and producers both are benefitted from ‘foreign trade’ in the following ways
◆ Foreign trade creates opportunities for the producers to sell their products not only in the domestic markets (within the country) but also all over the world. For example, Cafe Coffee Day which is an Indian MNC, exports its coffee to various countries like USA, Europe and Japan.
◆ Producers can also buy from the world market where raw material and labour is cheap. Similarly for the buyers, import of goods produced in another country is one way of expanding the choice of goods beyond what is domestically produced.
◆ Foreign trade facilitates by opening of trade goods which travel from one market to another. Choice of goods in the market rises.
◆ Producers in the two countries now closely compete against each other even though, they are far away to each other.
◆ Prices of similar goods in the two markets tend to become equal due to competition.
Question. How has foreign trade been integrating markets of different countries ? Explain wth examples.
Answer : Foreign trade has been integrating markets of different countries in following ways
◆ Since historic times foreign trade been the main channel of connecting countries, e.g. Silk route connects India and South Asia to markets both in the East and West. Foreign trade creates an opportunity for producers to reach beyond the domestic markets, i.e. markets of their own countries. Choice of goods in the markets rises. Prices of similar goods in the two markets tend to become equal. Producers in the two countries closely compete against each other even though they are separated by thousands of miles.
◆ With many MNCs in the market, the consumer has a wide range of products coming from different nations to choose from. Hence, it interlinks various markets across the countries. For example-Volkswagen, a German automobile company, is the biggest German automaker in the world. It came to India in 2007 and had recorded sales of 32,627 vehicles in the year 2010.
◆ Another example is Indian markets have a number of footwear brands available for customers. A consumer can decide what to purchase either from local footwear brands like Bata, Liberty, Red Chief or International brands like Nike, Skechers, Reebok etc as per his/her choice and need.
Question. What is globalisation? Explain two positive and two negative impact of globalisation.
Answer : Globalisation is the process of integration and interconnectedness between countries.
Positive impacts of Globalisation are
(i) Availability of variety of products with greater choice and quality at affordable price.
(ii) Creation of new jobs and higher standard of living.
Negative impact ofs Globalisation are
(i) Thousands of uneducated and unskilled labourers have become jobless due to closure of domestic units.
(ii) Most of the small industries like toys, tyres, plastics, dairy products are affected due to foreign competition. This results in their closure thereby reducing production.
Question. ‘‘Rapid improvement in technology has stimulated the globalisation process.’’ Explain the statement with examples.
Answer : Rapid improvement in technology has stimulated the globalisation process in the following ways
◆ There has been many improvements in transport facilities which help in export and import of goods. This increases trade relations between countries.
◆ Since technology improves efficiency, the process of exchange has become faster and cheaper.
◆ Development in information and communication technology has been the most beneficial since information can be now sent in seconds across the world.
◆ Development in IT also has led to the production of services through outsourcing for example, call centres, online teaching etc.
◆ Through internet facility, one can obtain and share information on almost anything, it allows to send e-mail and messages across the world at negligible costs.
For example, a news magazine published for London readers is to be designed and printed in Delhi. The magazine is sent through internet to the Delhi office. The designers in Delhi office get orders on how to design the magazine from the office in London using telecommunication facilities. The designing is done on a computer. After printing, the magazines are sent by air to London. Even the payment of money for designing and printing from a bank in London to a bank in Delhi is done instantly through the internet banking.
Case Based Questions
Question. Read the case/source given and answer the questions that follow by choosing the correct option.
Let us see the effect of Foreign trade through the example of Chinese toys in the Indian markets. Chinese manufacturers learn of an opportunity to export toys to India, where toys are sold at a high price.
They start exporting plastic toys to India. Buyers in India now have the option of choosing between Indian and the Chinese toys. Because of the cheaper prices and new designs, Chinese toys become more popular in the Indian markets. Within a year, 70 to 80 per cent of the toy shops have replaced Indian toys with Chinese toys. Toys are now cheaper in the Indian markets than earlier. What is happening here?
As a result of trade, Chinese toys come into the Indian markets. In the competition between Indian and Chinese; toys, Chinese toys prove better. Indian buyers have a greater choice of toys and at lower prices. For the Chinese toy makers, this provides an opportunity to expand business. The opposite is true for Indian toy makers. They face losses, as their toys are selling much less.
(i) The Chinese toys have made a global presence in Indian markets too. If India bans Chinese products in their market then what will it imply?
(a) It will decrease the competion in the Indian markets.
(b) It will be an unhealthy business practice.
(c) It will impact economic as well as political relations between the two nations.
(d) Both (b) and (c)
Answer : (d) Both (b) and (c)
(ii) What is the basic function of foreign trade with reference to the given case? Identify the best suitable option from the following:
(a) It connects markets of different countries.
(b) It creates opportunities for only the buyer to approach foreign goods.
(c) It connects markets of two countries only.
(d) Foreign trade connects developed countries only.
Answer : (a) It connects markets of different countries.
(iii) What will happen if tax is imposed on Chinese toys? Choose the correct option.
(a) Chinese toymakers will benefit.
(b) Indian toymakers will prosper.
(c) Chinese toys will remain cheap
(d) Indian consumers will buy more Chinese toys.
Answer : (b) Indian toymakers will prosper.
(iv) How have markets been transformed in recent years? Infer the correct option with reference to the above context.
(a) Goods become cheaper and have many choices to the user.
(b) Lower job opportunities for people.
(c) High competition among the makers of goods and services
(d) Both (a) and (c)
Answer : (d) Both (a) and (c)
(v) How does foreign trade integrate the markets? With reference to the given context, infer the correct Codes
(a) Producers get an opportunity to go beyond their domestic markets.
(b) Producers can sell their produce in markets all over the world.
(c) Both (a) and (b)
(d) Foreign trade has limited the scope of enhancing trade among the countries.
Answer : (c) Both (a) and (b)
(vi) Read the following statements and choose the incorrect statements about the impacts of Chinese goods on Indian goods market.
I. Indian goods are facing crises due to cheap products offered by China into the Indian markets.
II. Chinese goods dominate the Indian markets.
III. Indian goods are less expensive then Chinese goods.
Codes
(a) Both I and II
(b) Only II
(c) Only III
(d) Both II and III
Answer : (c) Only III
Question. Read the cases/sources given below and answer the questions that follow.
MNC is not only selling its finished products globally, but more important, the goods and services are produced globally. As a result, production is organised in increasingly complex ways. The production process is divided into small parts and spread out across the globe. In the above example, China provides the advantage of being a cheap manufacturing location. Mexico and Eastern Europe are useful for their closeness to the markets in the US and Europe.
India has highly skilled engineers who can understand the technical aspects of production. It also has educated English speaking youth who can provide customer care services. And all this probably can mean 50-60 per cent cost savings for the MNC! The advantage of spreading out production across the borders to the multinationals can be truly immense.
(i) Why MNC’s prefer India as their destination for setting business?
Answer : MNC’s prefer India as their destination for setting business due to the following reasons
◆ India has highly skilled engineers who can understand the technical aspects of production.
◆ India also has educated English speaking youth. It has cheap labour and resources.
(ii) What kind of criterias are looked upon by the MNC’s for Investment?
Answer : MNC look for various criterias before investing such as availability of skilled-unskilled labour, closeness to the markets, government policies that look after their
interest, etc.
(iii) To what extent do you agree that SEZs are encouraged by the government for MNCs?
Answer : Government encourage SEZs which is known from the fact that government provides world class facilities like electricity, water, roads, transport, storage, recreational and educational facilities in these industrial zones. SEZs are encouraged so that MNCs set up their factories or offices in SEZs.
Question. Read the case given below and answer the following questions.
Source-A Globalisation and the Indian Economy
As consumers in today’s world, some of us have a wide choice of goods and services before us. The latest models of digital cameras, mobile phones and televisions made by the leading manufacturers of the world are within our reach. Every season, new models of automobiles can be seen on Indian roads.
(i) How is the impact of globalisation visible on consumers?
Answer : The impact of globalisation is visible on consumers as due to globalisation there is a greater choice available before consumers who now enjoy improved quality and lower prices for several products.
Source-B Foreign Trade and Integration of Markets
Foreign trade creates an opportunity for the producers to reach beyond the domestic markets, i.e. markets of their own countries. Producers can sell their produce not only in markets located within the country but can also compete in markets located in other countries of the world. Similarly, for the buyers, import of goods produced in another country is one way of expanding the choice of goods beyond what is domestically produced.
(ii) Explain the basic function of Foreign Trade.
Answer : The basic functions of foreign trade is that it creates an opportunity for the producers to reach beyond the domestic markets i.e. markets of their own countries. Producers can sell their produce not only in markets located within the country but can also compete in markets located in other countries of the world.
Source-C The Struggle for Fair Globalisation
In the past few years, massive campaigns and representation by people’s organisations have influenced important decisions relating to trade and investments at the WTO. This has demonstrated that people also can play an important role in the struggle for fair globalisation.
(iii) How do people play an important role in the struggle for fair globalisation ? Explain.
Answer : People play an important role in the struggle for fair globalisation as they organise massive campaigns and protests and influence the trade and investment policies of the World Trade Organisation (WHO) and their own countries as well.