Question

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What do you understand by globalisation? Explain in your own words?


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Answer 1

Explanation:

What do you understand by globalisation? Explain in your own words?

Globalisation means integrating the economy of a country with the economies of other countries under conditions of free flow of trade, capital and movement of persons across borders. It includes.

☆(i) Increase in foreign trade.

☆ (ii) Export and import of techniques of production.

Answer 2

Answer:

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The process of interconnection between countries or rapid integration between countries is known as Globalization.

• Greater integration of markets and production across countries was the result of greater foreign trade and greater foreign investment.
• There has been a rapid increase in foreign trade between countries.
• Multinational Companies (MNCs) control a large part of the foreign trade.
• The car manufacturing plant of Hyundai Motors in India not only produces cars to meet the requirements of Indian markets, but also exports car components to other factories across the globe and exports cars to markets in other countries.