Today in this post we are going to provide you some important questions of of Economics Class 10th Money and Credit Chapter 4 for term 2 Exam. This is Part-A
Message to the reader,
In the todays post we have provided all the answers important of the questions of Money and Credit in pointe wise. I suggest all the students must tried to answers in point wise in their all the exams, because when we write answers in the point wise the answers looks clear and the examiner don't need to spend more more on reading your single answers and he/she gives you full marks.
And one more thing writing every point you must leave one line and must leave two line after writing a complete answers when you are going to write next answers.
Short Answer Type Questions (3 Marks Each)
1. Assess any three advantages of globalization. [CBSE Delhi, 2019]
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 process. For instance, advancement in transportation technology has made much faster delivery of goods across long distances possible at lower costs. Container services have led to huge reduction in port handling costs. The cost of air transport has fallen which has enabled much greater volumes of goods being transported by airlines.
(iv) Developments in information and communication technology has brought a revolution in telecommunications. It has made e-banking, e-commerce, e-learning, e-mail and e-governance a reality.
(v) Globalization has resulted in greater competition among producers and has been of advantage to consumers, particularly the well-off section. Rich people now enjoy improved quality and lower prices for several products.
2. 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.
3. Explain by giving examples that Multinational Corporations (MNCs) are spreading their production in different ways. U [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.
4. “A wide ranging choice of goods are available in the Indian markets.” Support the statement with examples in context of Globalisation. 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.
5. Where do MNCs setup their production units? Explain.
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 labor are available at low cost.
(iv) Other factors of production are assured.
(v) Government policies are favorable.
6. Enumerate any three features of Multinational Corporations.
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.
7. How has Globalisation created new opportunities for companies providing services in India? Explain.
Ans. (i) Globalization 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.
8. How can the benefits of globalisation be shared better? Explain.
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’.
9. 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.
10. What are the Special Economic Zones (SEZs)? Why is the government setting up SEZs? [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.
11. 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.
(Any three) 1×3=3
12. 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. (Any three)
Detailed Answer :
Government can play an important role in making Globalisation 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.
13. ‘‘Barriers on foreign trade and foreign investment were removed to a large extent in India since 1991.’’ Justify the statement.
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.
14. Why had the Indian government put barriers to foreign trade and foreign investment after independence? Analyse the reasons.
Ans. Reasons for putting trade barriers to foreign trade and investment by the Indian government after Independence are :
(i) To protect local producers and goods from foreign competition.
(ii) Industries needed protection so that they could grow and develop in order to be ready to compete with developed countries later on.
(iii) It imposed restrictions on the import of certain goods.
Long Answer Type Questions (5 Marks Each): Click Here
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