CBSE Class 10 Social Science Economics Chapter 4 Globalisation and the Indian Economy
CBSE Class 10 Social Science Economics Chapter 4 Globalisation and the Indian Economy Notes
Key Topics Covered
What is Globalisation?
Globalisation refers to the integration of economies worldwide through trade, investment, and technology.
It involves the movement of goods, services, capital, and people across borders.
Multinational Corporations (MNCs)
MNCs play a significant role in globalisation by setting up production units in multiple countries.
They bring foreign investment, technology, and employment opportunities.
Foreign Trade
Foreign trade connects markets globally, allowing goods and services to move across countries.
It increases competition, provides choices to consumers, and helps producers access larger markets.
Impact of Globalisation on India
Positive impacts include increased foreign investment, improved technology, and access to global markets.
Challenges include competition for local industries and unequal benefits across different sectors.
Liberalisation
Liberalisation refers to the removal of trade barriers and restrictions imposed by the government.
It encourages foreign trade and investment, fostering economic growth.
Special Economic Zones (SEZs)
SEZs are industrial zones with world-class facilities to attract foreign companies.
Companies in SEZs enjoy tax exemptions and other benefits.
Challenges of Globalisation
Issues like environmental degradation, exploitation of workers, and widening income inequality are discussed.
The need for sustainable and inclusive growth is emphasized.
CBSE NCERT Class 10 Social Science Economics Chapter 4 Globalisation and the Indian Economy Important Question Answers
What do you understand by globalisation? Answer: Globalisation refers to the process of integration and interaction among countries through trade, investment, technology, and cultural exchange. It connects economies worldwide, enabling the movement of goods, services, capital, and people across borders.
What role do Multinational Corporations (MNCs) play in globalisation? Answer: MNCs are key drivers of globalisation. They set up production units in multiple countries, bring foreign investment, introduce advanced technology, and create employment opportunities. They also connect local markets to global supply chains.
Why did the Indian government impose barriers on foreign trade and investment after independence? Answer: The government imposed barriers to protect domestic industries from foreign competition. During the 1950s and 1960s, Indian industries were in their infancy, and unrestricted imports could have hindered their growth.
Why did the Indian government remove trade barriers in 1991? Answer: The government removed trade barriers to integrate the Indian economy with the global market. This decision was aimed at improving the competitiveness of Indian industries, attracting foreign investment, and fostering economic growth.
What are Special Economic Zones (SEZs), and how do they promote globalisation? Answer: SEZs are industrial zones with world-class infrastructure and tax benefits designed to attract foreign companies. They promote globalisation by encouraging foreign investment and boosting exports.
What are the positive impacts of globalisation on India? Answer:
Increased foreign investment.
Access to advanced technology.
Expansion of markets for Indian goods and services.
Creation of employment opportunities.
What are the challenges of globalisation for India? Answer:
Increased competition for local industries.
Unequal distribution of benefits, favoring urban areas over rural regions.
Exploitation of workers in unregulated sectors.
Environmental degradation due to industrial expansion.
What is liberalisation, and how is it related to globalisation? Answer: Liberalisation refers to the removal of government-imposed restrictions on trade and investment. It is a key component of globalisation, as it facilitates the free flow of goods, services, and capital across borders.
CBSE NCERT Class 10 Social Science Economics Chapter 4 Globalisation and the Indian Economy MCQs
MCQs – Globalisation and the Indian Economy
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What does globalisation refer to?
a) Integration of economies worldwide ✅
b) Isolation of economies
c) Reduction in trade
d) Increase in trade barriers
Answer: a) Integration of economies worldwide -
Which organization facilitates global trade?
a) UNESCO
b) WTO ✅
c) WHO
d) IMF
Answer: b) WTO -
What attracts MNCs to set up production in India?
a) High wages
b) Cheap labor and large markets ✅
c) Strict labor laws
d) Limited resources
Answer: b) Cheap labor and large markets -
What is the main aim of Special Economic Zones (SEZs)?
a) To promote regional development
b) To attract foreign companies to invest in India ✅
c) To reduce exports
d) To increase trade barriers
Answer: b) To attract foreign companies to invest in India -
Which of the following is not true about the World Trade Organization (WTO)?
a) It aims to liberalize international trade
b) It establishes rules regarding trade
c) It allows free trade without barriers ❌
d) It forces developing countries to remove trade barriers
Answer: c) It allows free trade without barriers -
What is the impact of globalisation on Indian agriculture?
a) Increased exports of agricultural products ✅
b) Decreased competition
c) Reduced use of technology
d) Isolation from global markets
Answer: a) Increased exports of agricultural products -
Which of the following is a benefit of globalisation?
a) Increased trade barriers
b) Wider choice of goods for consumers ✅
c) Reduced competition
d) Limited access to technology
Answer: b) Wider choice of goods for consumers -
What is the primary reason for removing trade barriers in India?
a) To protect domestic industries
b) To integrate with the global economy ✅
c) To reduce foreign investment
d) To increase trade restrictions
Answer: b) To integrate with the global economy -
Which country is known for the Grameen Bank model of microcredit?
a) India
b) Bangladesh ✅
c) Sri Lanka
d) Nepal
Answer: b) Bangladesh -
What is the main challenge of globalisation for small producers?
a) Increased profits
b) Competition from MNCs ✅
c) Access to global markets
d) Reduced production costs
Answer: b) Competition from MNCs
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