Chapter 4
Globalization and the Indian Economy
Part-II (3 Marks Each)
Class 10 Economics Chapter 4 Extra Questions and Answers Globalization and the Indian Economy
CBSE Class 10 Economics Chapter 4 Extra Questions and Answers Globalization and the Indian Economy Pdf free download are part of Extra Questions for Class 10 Social Science. Here we have given NCERT Extra Questions for Class 10 Social Science SST Economics Chapter 4 Globalization and the Indian Economy.
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Globalization and the Indian Economy Class 10 Extra Questions Economics Chapter 4
Short Answer Type Questions
1. Evaluate the role of MNCs in the economic
development of a country. U [SQP, 2018-19]
Ans. Role of MNCs in the economic development:
(i) MNCs place order for production with small
producers.
(ii) MNCs are setting up partnerships with local
companies.
(iii) They are interlinking the markets all over the
world.
(iv) Any other relevant point.
(Any three to be explained) 1 × 3 = 3
[CBSE Marking Scheme, 2018]
Detailed Answer:
(i) MNCs place order for production with small
producers: Due to this, small producers are able to
get a global exposure as well as a huge customer base.
(ii) MNCs are setting up partnerships with local
companies: The local companies are able to expand
themselves at a global level.
(iii) They are interlinking markets all over the world:
Interlinking of markets all over the world has led
to the exchange of foreign currency and thereby
providing a boom to the economy.
2. Differentiate between foreign trade and foreign
investment. U [Board Term-II, 2016]
Ans.
The difference between foreign trade and foreign investment are:
|
Foreign Trade: |
Foreign Investment: |
|
The process of buying and selling goods and services between two or more than two countries is known as foreign trade. |
Foreign investment involves capital flows from one country to another, granting extensive ownership stakes in domestic companies and assets. |
3. “A wide ranging choice of goods are available in
the Indian markets.” Support the statement with
examples in context of globalization.
A [Board Term -II, Delhi Set-II, 2016]
Ans. A wide ranging choice of good:
(i) We have a wide variety of goods and services before us in the market.
(ii) The latest models of the digital cameras, mobile phones and televisions made by leading manufacturers of the world are available in the market.
(iii) Every season, new models of automobiles can be seen on Indian roads.
(iv) Today Indians are buying cars produced by nearly all the top companies in the world.
(v) A similar explosion of brands can be seen for
many other goods. 1×3=3
[CBSE Marking Scheme, 2016]
4. Where do MNCs setup their production units?
Explain. R [O.E.B.]
Ans.
(i) MNCs setup production units at such a place where they can produce their goods at a minimum cost.
(ii) The place where markets are closer.
(iii) The place where skilled and unskilled labour are available at low cost.
(iv) Other factors of production are assured.
(v) Government policies are favourable. (Any three)
5. Enumerate any three features of Multinational
Corporations. A [O.E.B.]
Ans. Multinational Corporations (MNCs) are the companies that own or control the production of their goods in more than one country.
The main features of MNCs are:
(i) They setup their factories and offices in more than one country.
(ii) They setup their units where the cost of production is low and higher profits can be earned.
(iii) They set up their units where they can get cheap labour and other resources.
The students write about the advantages of MNC's instead of writing the features.
6. Explain with three examples how top Indian
companies have been benefited from globalization.
U [O.E.B.]
Ans. Several top Indian companies have been able to
benefit from globalization:
(i) They have invested in newer technology and production methods and raised their production standards.
(ii) Some have gained from successful collaborations with foreign companies.
(iii) globalization has enabled some large Indian companies to emerge as multinational themselves.
For example, Tata Motors and Infosys.
7. How can the benefits of globalization be shared
better? Explain. U [O.E.B.]
Ans. The benefits of globalization can be shared
better in the following ways:
(i) The government policy must protect the interest, not only of the rich and the powerful, but of all the people in the country.
(ii) The government can ensure that labour laws are properly implemented and workers get their rights.
(iii) It can support small producers to improve their performance till they become strong enough to compete.
(iv) It can use trade and investment barriers.
(v) It can negotiate at the WTO for ‘fairer rules’. (Any three)
8. How has globalization affected the life of Indians?
Explain with examples. A [OD Set-II, 2019]
Ans. Effects of globalization:
(i) Advantage to consumers particularly well of sections in the urban areas.
(ii) Wider choice before the consumer.
(iii) Improved quality and lower prices for several products.
(iv) Any other relevant point. (Any three)
[CBSE Marking Scheme, 2019]
Detailed Answer:
globalization has affected the life of Indians in the following ways:
(i) Increase in foreign investment: Over the ast twenty years, the foreign investment has increased.
(ii) Emergence of Indian companies as
multinational: Several top Indian companies like Tata Motors, Infosys, Ranbaxy have been able to get benefit from the increased competition created as a result of globalization.
(iii) Creation of new opportunities: globalization has created new opportunities for Indian companies, particularly providing services like IT.
(iv) Creation of new jobs: globalization has created new jobs specifically for IT professionals and has helped in reducing unemployment rate to an extent.
(v) A host of services such as data entry, accounting, administrative tasks, engineering, etc. are now being performed at lesser costs in India.
Creation of new job opportunities in IT and services such as data entry, engineering, etc. should be discussed here.
9. Critically examine the impacts of globalization in
India. E [CBSE SQP, 2018-19]
Ans. Impacts of globalization in India:
(i) Stiff competition for local producers and manufacturers.
(ii) No job security.
(iii) Workers are denied their fair share of benefit.
(iv) Long working hours and low wages to the workers.
(v) Expansion of unorganized sector.
(vi) New opportunities for IT sector.
(vii) Increase in investment and foreign trade.
(viii) Any other relevant point
(Any three to be explained)
[CBSE Marking Scheme, 2018]
Detailed Answer:
Impacts of globalization in India are as follows:
(i) Globalization improves the productivity and efficiency in the use of resources through the process of competition.
(ii) Due to Globalization, growth rate of economy has gone up with an increase in foreign investment and foreign technology in India.
(iii) It allows the consumers to enjoy a wider range of goods and services at a lower cost.
Q. 10. What are the Special Economic Zones (SEZs)? Why is the government setting up SEZs?
R [Board Term-II, 2016]
Ans. SEZs or Special Economic Zones are industrial areas with world class facilities.
(i) Companies who setup units in SEZs are exempted from tax for 5 years.
(ii) They are setup to attract foreign investment.
[CBSE Marking Scheme, 2016]
11. Describe any three ways in which countries can
be linked through globalization.
A [Board Term-II, 2015]
Ans.
(i) By movement of goods.
(ii) By movement of services.
(iii) By movement of investments.
(iv) By movement of technology.
(v) By the movement of people between countries.
(Any three) 1×3=3
[CBSE Marking Scheme, 2015]
12. How can the Government of India play a major
role to make globalization more fair ? Explain
with examples. A [OD Set-I 2019]
Ans. Role of Government in making globalization
fairer :
(i) The Government policies must protect the interest of not only the rich but all citizens of the country.
(ii) It can ensure the proper implementation of labour laws.
(iii)Small producers should be supported to improve their performance.
(iv) Use of trade & investment barriers to protect the small producers.
(v) Any other relevant to be explained. (Any three)
[CBSE Marking Scheme, 2019]
Detailed Answer :
Government can play an important role in making
globalization a success :
(i) Protection of interests : The Government should prepare such policies that may protect the interests not only of the rich and the powerful but also of all the common people in the country.
(ii) Labour laws : Government should ensure that labour laws are properly implemented and the workers get their rights.
(iii) Reserved item : Government can reserve some items exclusively for small scale and local producers.
(iv) Investment barriers : If necessary, the government can employ trade and investment barriers like quota system, import duty etc.
Few answers do not have any points on investment and trade barriers, which is lacking.
13. ‘‘Barriers on foreign trade and foreign investment were removed to a large extent in India since 1991.’’ Justify the statement.
E [Board Term-II, Delhi Set-I, 2016]
Ans. Removal of barriers on foreign trade and foreign investment :
(i) Barriers on foreign trade and foreign investment were partially removed.
(ii) Goods could be imported and exported easily.
(iii) Foreign companies could setup factories and offices here.
(iv) Indian producers got opportunities to compete with producers around the globe (Any three) 1 ×3 =3
[CBSE Marking Scheme, 2016]
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