Question

What do you underst
and by globalisation?

Answer 1

Hello!

Here is your answer!
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Globalization is a process of interaction and integration among the people,companies,and governments of different Nations.A process driven by International trade and investment.

Advantage  and disadvantages of globalization.
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Advantages
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1) Resources of different countries are used for producing goods and services they are able to do more efficiently.
2) Consumers get the product they want at more competitive prices.
3) Companies get access to much wider markets.
4) It promotes understanding and goodwill among different countries.
5) Businesses and investors get much wider opportunities for investment.
 
 Disadvantages
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1) Developed countries can stifle development of undeveloped and under-developed countries.
2) Economic depression in one country can trigger adverse reaction across the globe. 
3) It can increase the spread of communicable diseases. 
4)  Companies face much greater competition. This can put smaller companies at a disadvantage as they do not  have resources to compete at global scale.

What does globalisation mean for the indian economy? 

It means to open the trade and economy for the International players.Every manufacturer or producer of goods could compete for sale of their products without any restrictions or without any imposed control.Any country can participate to set up,acquire,merge industries,invest in equity and shares,sell their products and services in India.
U may have a question.. What is the purpose of globalization?

Well,globalization brings the world closer together. Before technology , distance and time prevented the world from coming together and sharing cultures.
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Hope it helps!

Answer 2

1.flow of trade.

2.flow of capital.

3.flow of labour.

These are flows of globalisation.

Hope this helps you.