Guys in the todays post providing all the importent questions of Globanistion and the Indian Economy of Economy Class 10th Chapter 4 for term term 2 Exam. Dont'nt cram the answers just read the question answers and try to understand.
Short Answer Type Questions (3 Marks Each)
1. Assess any three advantages of globalization.
Ans. The advantages of globalization are as follows:
(i) Under the globalization process, goods and services along with capital, resources and technology can move freely from one nation to another.
(ii) It has increased the movement of people between countries. People usually move from one country to another in search of better income, better jobs or better education. Earlier the movement of people between countries was less due to various restrictions.
(iii) Rapid improvement in technology has been one major factor that has stimulated the globalization
2. Evaluate the role of MNCs in the economic development of a country.
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.
3. Differentiate between foreign trade and foreign investment.
Ans. Foreign Trade: The process of buying and selling goods and services between two or more than two countries is known as foreign trade. Foreign Investment: Foreign investment involves capital flows from one country to another, granting extensive ownership stakes in domestic companies and assets.
4. Explain by giving examples that Multinational Corporations (MNCs) are spreading their production in different ways. [Board Term-II, OD Set-II, 2016]
OR
Explain any three ways in which Multinational Companies have spread their production and interaction with local producers in various countries across the globe.
Ans. Multinational Corporations are spreading their production in different ways:
(i) By setting up a partnership with local companies.
(ii) By placing orders with local companies. For example, garments, footwear, sports items, etc.
(iii) By closely competing with the local companies.
(iv) By buying local companies. To take an example, Cargill Foods, a very large American MNC has bought over smaller Indian companies such as Parakh Foods. Parakh Food had built a large marketing network in various parts of India, where its brand was well-reputed.
5. “A wide ranging choice of goods are available in the Indian markets.” Support the statement with examples in context of Globalisation.
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.
6. 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.
7. 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.
(Do not write about the advantages of MNC's instead of writing the features.)
8. Explain with three examples how top Indian companies have been benefited from Globalisation.
Ans. Several top Indian companies have been able to benefit from Globalisation:
(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) Globalisation has enabled some large Indian companies to emerge as multinational themselves.
For example, Tata Motors and Infosys.
9. How has Globalisation created new opportunities for companies providing services in India? Explain.
Ans. (i) Globalisation has created new opportunities for companies providing services particularly those involving IT.
(ii) The Indian company producing a magazine for the London based company and call centres are some
examples.
(iii) Besides, a host of services such as data entry, accounting, administrative tasks and engineering are now being done cheaply in India and are exported to the developed countries.
10. How can the benefits of globalisation be shared better? Explain.
Ans. The benefits of Globalisation 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’.
12. How has globalisation affected the life of Indians?
Explain with examples.
Ans-Globalisation has affected the life of Indians in the following ways:
(i) Increase in foreign investment: Over the past 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 Globalisation.
(iii) Creation of new opportunities: Globalisation has created new opportunities for Indian companies, particularly providing services like IT.
(iv) Creation of new jobs: Globalisation 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.
13. Critically examine the impacts of globalization in India. E [CBSE SQP, 2018-19]
OR
Analyse any three impacts of globalization in India.
Ans. Impacts of Globalisation 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.
14. Describe any three ways in which countries can be linked through globalisation.
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.
15. How can the Government of India play a major role to make globalisation more fair ?Explain with examples.
Ans. Role of Government in making Globalisation 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.
16. Elaborate any three disadvantages of Multinational Corporations.
Ans. The disadvantages of MNCs are :
(i) Small manufacturers like—batteries, capacitors, plastic toys, tyres, dairy products and vegetable oil are victims of competition.
(ii) Closing down of small units rendered many workers jobless.
(iii) Most employers prefer to employ workers ‘flexibly’, this means that workers jobs are no longer secure.
17. Describe the role of technology in promoting globalisation process.
Ans. Technology in promoting globalisation process Rapid improvement in technology has stimulated the globalisation process.
(i) This has made much faster delivery of goods across long distances possible at lower costs.
(ii) Even more remarkable have been the developments in information and communication technology.
(iii) Technology in the areas of telecommunications, computers, Internet has been changing rapidly.
(iv) 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.
(v) This has been facilitated by satellite communication devices.
3. How have our markets been transformed in recent years? Explain with examples.
E [CBSE Compartment, 2018]
OR
How have our markets been transformed? Explain with examples. E [Board Term-II, 2016]
OR
In recent years how our markets have been transformed? Explain with examples.
E [Board Term-II, Delhi Set 2015]
Ans. Markets have been transformed in recent years:
(i) We have a wide choice of goods and services before us.
(ii) The latest models of digital cameras, mobile phones and televisions made by the leading manufacturers of the world are within our reach now.
(iii) Example: 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; from shirts to televisions to
processed fruit juices
Q. 18. How are Multinational Corporations (MNCs) controlling and spreading their productions across the world? Explain.
Ans. The Multinational Corporations (MNCs) are controlling and spreading their production across the world in the following ways:
(i) MNCs setup their production units close to market.
(ii) MNCs setup production units jointly with local companies.
(iii) They setup units where there is skilled and unskilled labour available at low cost.
(iv) Large MNCs in developed countries place orders for production with small producers.
(v) They have tremendous power to determine price, quality, delivery and labour conditions for distant producers.
(vi) By purchasing local companies.
19. Explain any five effects of globalization.
Ans. Five effects of Globalization:
(i) Increased investments by MNCs.
(ii) It created new opportunities for companies.
(iii) Some large local companies like in India emerged as Multinational Companies.
(iv) Standards of living have been raised.
(v) Several companies hit hard due to competition.
(vi) Several workers rendered jobless due to shut down of industries.
(vii) Loss of cultural and social identity much to the detriment of national progress.
20. How do we feel the impact of globalisation on our daily life? Explain with examples.
Ans. Impact of Globalisation:
(i) Globalisation and greater competition among producers has been of advantage to consumers.
(ii) Greater choice before consumers.
(iii) Availability of standard quality products at lower price.
(iv) Improvement in living standard.
(v) Foreign investments have increased in many areas like cell phones, automobiles, electronics, soft drinks etc.
(vi) New job have been created.
(vii) Several of the units have shut down rendering many workers jobless.
(viii) Globalization has also created insecurity of job.
21. How does foreign trade integrate the markets of
different countries? Explain with examples.
Ans. Foreign Trade is integrating markets of different countries:
(i) Foreign trade creates an opportunity for the producers to reach beyond the domestic markets.
(ii) Producers can sell their products in the markets located in other countries.
(iii) It helps for expanding the choice of goods beyond domestic market.
(iv) It is a main channel connecting countries.
(v) Highly helpful for extensive trade.
(vi) The trading interest attracts various trading companies.
22. How can consumers and producers be benefited
from ‘foreign trade’? Explain with examples.
Ans. Consumers and producers are benefited from
foreign trade:
(i) Foreign trade creates an opportunity for producers to reach beyond the domestic market.
(ii) Producer 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.
(iii) For buyers import of goods produced in another country is one way of expanding the choice of
goods.
(iv) With the opening of trade goods travel from one market to another.
(v) Choice of goods in the market rises.
(vi) Prices of similar goods in the two markets tend to become equal.
(vii) Producers in the two countries closely compete with each other.
23. Describe the major problems created by the globalisation for a large number of small producers and workers.
Ans. Problems created by the globalisation for small producers and workers:
(i) It has led to a widening of income inequalities among various countries.
(ii) Workers jobs are no longer secure.
(iii) Expansion of the unorganized sector.
(iv) Small manufacturers have been hit hard due to severe competition.
(v) Several units have been shut down rendering many workers jobless.
(vi) Lives of workers are on the whims of employers.
(vii) Workers are deprived from their fair share of benefits.
24. “Fair globalisation would create opportunities for all and also ensure that benefits of# globalisation are shared better.” Support the statement.
Ans. Fair globalisation creates opportunities : Fair globalisation would create opportunities for all and also ensure that the benefits of globalisation are shared better.
(i) Government policies must protect the interests not only of the rich and powerful but of all the people in the country.
(ii) Government can ensure that labour laws are properly implemented and the workers get their rights.
(iii) Government can support small producers to improve their performance till they become strong enough to compete
(iv) If necessary the government can use trade and investment barriers.
(v) It can negotiate at the WTO for fairer rules.
(vi) It can also align with other developing countries with similar interests to fight against the domination of developed countries in the WTO.
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