Question

Define 'globalisation'. Describe any four benets of globalisation to the Indian economy.

Answer 1

Globalization is a process that encompasses the causes, courses, and consequences of transnationaland transcultural integration of human and non-human activities

1. Increase in employment

2. Increase in compensation

3. Enhancement of living standards and increased purchasing power

4. Empowerment of Indian youth

Answer 2

Globalization is the free movement of people, goods, and services across boundaries. This movement is managed in a unified and integrated manner. Further, it can be seen as a scheme to open the global economy as well as the associated growth in trade (global).

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