please 16. What do you think can be done so that trade between countries is fairer? 17. In the last twenty years, the globalisation of the Indian economy has come a long way. What has been its effect on the lives of people? 18. How has competition benefited people in India? 19. Should more Indian companies emerge as MNCs? How would it benefit the people in the country? 20. How would flexibility in labour laws help companies? 21. ‘Information and communication technology has played a major role in spreading out products and services across countries’. Justify the statement. 22.Why do developed countries want developing countries to liberalise their trade and investment? What do you think should the developing countries demand in return? 23. Define the World Trade Organisation. 24. “The impact of globalisation has not been uniform.” Explain this statement. 25. How does foreign trade lead to the integration of markets across countries? Explain with an example other than those given here. 26. Describe the major problems created by the globalisation for a large number of small producers and workers. 27. Which organization lays stress on liberalization of foreign trade and foreign investment? 28. ‘Barriers on foreign trade and foreign investment were removed to a large extent in India since 1991.’ Justify the statement. 29. Give one characteristic feature of a ‘Special Economic Zone’? help
Answers
Answer: ans 16 - Trade between countries would be fairer if both the countries removed trade barriers and allowed the free flow of goods and services, and let the market forces of demand and supply decide the volume of goods that will be transacted between countries.
ans 17 - Positive impact : Globalization has resulted in more choices for the consumers who now get better quality and at lower prices several products. This has improved the standard of living of people, particularly living in urban areas.
18 - Competition from imported goods has benefitted people in India in the following ways (a) Indian producers have improved their technology and quality to compete with foreign goods. ... (b) Prices of Indian goods have reduced to match those of foreign goods and so buyers of these items have benefitted.
19 - Yes, more Indian companies should emerge as MNCs. It would benefit the people in the country in the following ways : ... (b) Local companies that provide raw material and other services to these companies have prospered. (c) Rise in production standards, improved the standard of living of the people.
20 - Flexibility in labour laws will help companies in being competitive and progressive. By easing upon labour laws, company heads can negotiate wages and terminate employment, depending on market conditions. This will lead to an increase in the company՚s competitiveness.
21 - It and communication technology played a very important role in the section of delivery worldwide. Internet provides an online shopping worldwide. Service enables companies to sell their product in other countries. Internet also makes it possible to pay your money quickly through e-banking.
22 - Developed countries want developing countries to liberalise their trade and investment because then the MNCs belonging to the developed countries can set up factories in less-expensive developing nations, and thereby increase profits, with lower manufacturing costs and the same sale price.
23 - The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world's trading nations and ratified in their parliaments.
24- The impact of globalisation has not been uniform". It has only benefitted skilled and professional person in urban not the unskilled persons. The industrial and service sector has gained much in globalisation than in agriculture. It benefitted MNCs on domestic producers and the industrial working class.
25- Foreign trade leads to integration of markets across countries by the processes of imports and exports. Producers can make available their goods in markets beyond domestic ones via exports. Likewise buyers have more choice on account of imports from other countries
26 - ) It has led to widening of income inequalities among various countries. (ii) Workers jobs are no longer secure. (iii) Expansion of unorganized sector. (iv) Small manufacturers have been hit hard due to severe competition.
27- The World Trade Organisation (WTO) lays stress on liberalization of foreign trade and foreign investment.
28- Barriers on foreign trade and foreign investment were removed to a large extent in India since 1991." 1) Due to this, imports and exports could easily flow between different countries. 2) It allowed the local producers to compete with products at global level, so that they could improve the quality of their product.
29 - Broadly, four characteristics define the SEZ concept: (1) it is a geographically delineated area, usually physically secured; (2) it has a single management or administration; (3) it offers benefits for investors physically within the zone; and (4) it has a separate customs area (duty-free benefits) and streamlined ...
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Explanation:
Answer:
16.Trade between countries would be fairer if both the countries removed trade barriers and allowed the free flow of goods and services, and let the market forces of demand and supply decide the volume of goods that will be transacted between countries.
17.As a result, these people today, enjoy much higher standards of living than was possible earlier. Among producers and workers, the impact of globalization has not been uniform.