{"id":6878,"date":"2024-03-14T10:28:56","date_gmt":"2024-03-14T04:58:56","guid":{"rendered":"https:\/\/theexampillar.com\/ncert\/?p=6878"},"modified":"2024-03-03T11:31:15","modified_gmt":"2024-03-03T06:01:15","slug":"ncert-solutions-class-10-social-science-economics-chapter-4-globalisation-and-the-indian-economy","status":"publish","type":"post","link":"https:\/\/theexampillar.com\/ncert\/ncert-solutions-class-10-social-science-economics-chapter-4-globalisation-and-the-indian-economy\/","title":{"rendered":"NCERT Solutions Class 10 Social Science (Economics) Chapter 4 (Globalisation and the Indian Economy)"},"content":{"rendered":"<h2 style=\"text-align: center;\"><span style=\"font-family: georgia, palatino, serif; color: #000000;\"><strong>NCERT Solutions Class 10 Social Science <b>Economic\u00a0<\/b><br \/>\n(Understanding Economic Development)<br \/>\n<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-family: georgia, palatino, serif; color: #000000;\">The NCERT Solutions in English Language for Class 10 Social Science &#8211; Economic (Understanding Economic Development) <strong>Chapter &#8211; 4 (Globalisation and the Indian Economy) <\/strong>has been provided here to help the students in solving the questions from this exercise.\u00a0<\/span><\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-family: georgia, palatino, serif;\"><span style=\"color: #ff0000;\"><strong>Chapter &#8211; 4 (Globalisation and the Indian Economy)<\/strong><\/span><span style=\"color: #ff0000;\"><strong>\u00a0<\/strong><\/span><\/span><\/h2>\n<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"width: 100%; border-style: solid; border-color: #000000; background-color: #bddeab; text-align: center;\"><span style=\"font-family: georgia, palatino, serif; color: #ff0000; font-size: 14pt;\"><strong>Exercises\u00a0<\/strong><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><b>1. What do you understand by globalisation? Explain in your own words.<br \/>\n<\/b><strong>Answer &#8211; <\/strong> Globalisation in today\u2019s world has come to imply many things. It is the process by which the people of the world are unified into a single society and function together. This term is also often used to refer to economic globalisation: the integration of national economies into the international economy through trade, foreign direct investments, capital flows, migration and the spread of technology.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><b>2. What were the reasons for putting barriers to foreign trade and foreign investment by the Indian government? Why did it wish to remove these barriers?<br \/>\n<\/b><strong>Answer &#8211; <\/strong>The Indian government had put barriers to foreign trade and foreign investment to protect domestic producers from foreign competition, especially when industries had just begun to come up in the 1950s and 1960s. At this time, competition from imports would have been a death blow to growing industries. Hence, India allowed imports of essential goods only. <\/span><br \/>\n<span style=\"color: #000000; font-family: georgia, palatino, serif;\">In New Economic Policy in 1991, the government wished to remove these barriers because it felt that domestic producers were ready to compete with foreign industries. It felt that foreign competition would in fact improve the quality of goods produced by Indian industries. This decision was also supported by powerful international organisations.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><b>3. How would flexibility in labour laws help companies?<br \/>\n<\/b><strong>Answer &#8211; <\/strong> Instead of hiring workers on a regular basis, companies hire workers flexibly for short periods when there is intense pressure of work. This is done to reduce the cost of labour for the company. Flexibility in labour laws reduce cost and increase benefits of companies.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><b>4. What are the various ways in which MNCs set up, or control, production in other countries?<br \/>\n<\/b><strong>Answer &#8211; <\/strong> The various ways in which MNCs set up or control production in other countries are\u00a0 \u00a0: <\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">Buy up a local production company.\u00a0 \u00a0<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">Place orders for production with small producers, i.e., contract manufacturing.\u00a0 \u00a0<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">By setting up a partnership (joint venture) with a local company.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">Setting up their wholly owned subsidiary in the other country.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">By licensing or franchising their brand to a local company.\u00a0\u00a0<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><b>5. Why do developed countries want developing countries to liberalise their trade and investment? What do you think should the developing countries demand in return?<br \/>\n<\/b><strong>Answer &#8211; <\/strong>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\u00a0and the\u00a0same sale price. In my opinion, the developing countries should demand, in return, for some manner of protection of domestic producers against competition from imports. Also, charges should be levied on MNCs looking to set base in developing nations.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><b>6. \u201cThe impact of globalisation has not been uniform.\u201d Explain this statement.<br \/>\n<\/b><strong>Answer &#8211; <\/strong> \u201cThe impact of globalisation has not been uniform\u201d. The truth of\u00a0this statement can be\u00a0verified\u00a0if we observe the impact of MNCs on domestic\u00a0producers and the\u00a0industrial working\u00a0class. Small producers of goods\u00a0such as\u00a0batteries, capacitors, plastics, toys, tyres, dairy products and vegetable oil have been hit hard by competition from cheaper imports. Also, workers are now employed \u201cflexibly\u201d in the face of growing competition. This has reduced their job security. Efforts are now on to make globalisation \u201cfair\u201d for all since it has become a worldwide phenomenon.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><b>7. How has liberalisation of trade and investment policies helped the globalisation process?<br \/>\n<\/b><strong>Answer &#8211; <\/strong> Liberalisation of trade and investment policies has helped the globalisation process by making foreign trade and investment easier. Earlier, several developing countries\u00a0had placed barriers and restrictions on imports and investments from abroad to protect domestic production. However, to\u00a0improve the quality of domestic goods, these countries have removed the barriers. Thus, liberalisation has led to a further spread of globalisation because now businesses are allowed to make their own decisions on imports and exports. This has led to a deeper integration of national economies into one conglomerate whole.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><b>8. How does foreign trade lead to the integration of markets across countries? Explain with an example other than those given here.<br \/>\n<\/b><strong>Answer &#8211; <\/strong> 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. This is how markets are integrated through foreign trade. For example, Japanese electronic items are imported to India, and have proved to be a tough competition for less-technologically-advanced companies here.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><b>9. Globalisation will continue in the future. Can you imagine what the world would be like twenty years from now? Give reasons for your answer.<br \/>\n<\/b><strong>Answer &#8211; <\/strong> The whole world would become a single market twenty years from now. The reasons behind this are:<\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">MNCs would produce goods and services in those locations around the world which would be cheap for their production. <\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">MNCs explore new areas to expand their activities and thus development takes place. <\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">Foreign investment by MNCs would increase much more which encourages technological advancement. It helps in the emergence of new MNCS. <\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">There would be greater movement of people between countries.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><b>10. Supposing you find two people arguing: One is saying globalisation has hurt our country\u2019s development. The other is telling, globalisation is helping India develop. How would you respond to these arguments?<br \/>\n<\/b><strong>Answer &#8211;\u00a0 <\/strong>Both the people who are involved in the argument are not wrong, since both of them can back their claims with information. <\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">It is clear that benefits of globalisation have not led to uniform development of all sections of society in India. There have been very positive developments as well as negative developments due to globalisation. The following points will give more clarity on the positive impact and negative impacts of globalisation in India.<\/span><\/p>\n<p><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><strong>Globalization \u2013 Positive Impact on India<\/strong><\/span><\/p>\n<ul>\n<li><span style=\"color: #000000; font-family: georgia, palatino, serif;\">India has been beneficial for MNCs which can be seen from the rising investments spread over the past 20 years.<\/span><\/li>\n<li><span style=\"color: #000000; font-family: georgia, palatino, serif;\">For companies in the services sector many new opportunities were created due to Globalization, particularly in the IT industry.<\/span><\/li>\n<li><span style=\"color: #000000; font-family: georgia, palatino, serif;\">Globalisation has enabled some large Indian companies to emerge as multinationals themselves, and they are spreading their operations worldwide, some of the examples of such companies are Infosys (IT), Asian Paints (paints), Tata Motors (automobiles),Ranbaxy (medicines), Sundaram Fasteners (nuts and bolts)<strong>.<\/strong><\/span><\/li>\n<li><span style=\"color: #000000; font-family: georgia, palatino, serif;\">MNCs have shown keen interest in industries such as banking in urban areas, fast food, soft drinks, automobiles, cell phones, electronics.<\/span><\/li>\n<li><span style=\"color: #000000; font-family: georgia, palatino, serif;\">Many new jobs have been created in the services and industries mentioned above. Raw materials are supplied to these companies by the local companies, which in turn allows these local companies to prosper.<\/span><\/li>\n<li><span style=\"color: #000000; font-family: georgia, palatino, serif;\">Different types of services such as engineering, accounting, administrative tasks, data entry are now being done cheaply in countries such as India and are exported to the developed countries.<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><strong>Negative Impacts in India \u2013 Due to Globalisation<\/strong><\/span><\/p>\n<ul>\n<li><span style=\"color: #000000; font-family: georgia, palatino, serif;\">Due to competition, small manufacturers have been hit hard and some examples of such industries are vegetable oil, dairy products, tyres, toys, plastics, capacitors, batteries.<\/span><\/li>\n<li><span style=\"color: #000000; font-family: georgia, palatino, serif;\">Many workers went jobless as several of the units had to be shut down.<\/span><\/li>\n<li><span style=\"color: #000000; font-family: georgia, palatino, serif;\">This is a significant negative impact In India, because next to agriculture, the small industries employ the largest number of workers (20 million).<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><b>11. Fill in the blanks.<\/b><\/span><br \/>\n<span style=\"color: #000000; font-family: georgia, palatino, serif;\">Indian buyers have a greater choice of goods than they did two decades back. This is closely associated with the process of _______. Markets in India are selling goods produced in many other countries. This means there is increasing ______ with other countries. Moreover, the rising number of brands that we see in the markets might be produced by MNCs in India. MNCs are investing in India because of ______. While consumers have more choices in the market, the effect of rising ______ and ______ has meant greater ____ among the producers.<br \/>\n<strong>Answer &#8211;<br \/>\n<\/strong>Indian buyers have a greater choice of goods than they did two decades back. This is closely associated with the process of\u00a0<strong><u class=\"cs-color\">globalisation<\/u><\/strong>. Markets in India are selling goods produced in many other countries. This means there is increasing\u00a0<strong><u class=\"cs-color\">trade<\/u><\/strong>\u00a0with other countries. Moreover, the rising number of brands that we see in the markets might be produced by MNCs in India. MNCs are investing in India because\u00a0<strong><u class=\"cs-color\">of cheaper production costs<\/u><\/strong>. While consumers have more choices in the market, the effect of rising\u00a0<strong><u class=\"cs-color\">demand<\/u><\/strong>\u00a0and\u00a0<strong><u class=\"cs-color\">purchasing<\/u><\/strong>\u00a0power has meant greater\u00a0<strong><u class=\"cs-color\">competition<\/u>\u00a0<\/strong>among the producers.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><b>12. Match the following.<\/b><\/span><\/p>\n<div class=\"table-responsive\" style=\"text-align: justify;\">\n<table style=\"width: 100%;\" border=\"1\">\n<tbody>\n<tr>\n<td style=\"width: 68.7961%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(i) MNCs buy at cheap rates from small producers<\/span><\/td>\n<td style=\"width: 30.2211%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(a) Automobiles<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 68.7961%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(ii) Quotas and taxes on imports are used to regulate trade<\/span><\/td>\n<td style=\"width: 30.2211%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(b) Garments, footwear, sports items<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 68.7961%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(iii) Indian companies who have invested abroad<\/span><\/td>\n<td style=\"width: 30.2211%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(c) Call centres<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 68.7961%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(iv) IT has helped in spreading of production of services<\/span><\/td>\n<td style=\"width: 30.2211%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(d) Tata Motors, Infosys, Ranbaxy<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 68.7961%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(v) Several MNCs have invested in setting up factories in India for production<\/span><\/td>\n<td style=\"width: 30.2211%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(e) Trade barriers<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><strong>Answer &#8211;<\/strong><\/span><\/p>\n<table border=\"1\">\n<tbody>\n<tr>\n<td style=\"width: 68.7961%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(i) MNCs buy at cheap rates from small producers<\/span><\/td>\n<td style=\"width: 30.2211%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(b) Garments, footwear, sports items<br \/>\n<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 68.7961%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(ii) Quotas and taxes on imports are used to regulate trade<\/span><\/td>\n<td style=\"width: 30.2211%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(e) Trade barriers<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 68.7961%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(iii) Indian companies who have invested abroad<\/span><\/td>\n<td style=\"width: 30.2211%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(d) Tata Motors, Infosys, Ranbaxy<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 68.7961%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(iv) IT has helped in spreading of production of services<\/span><\/td>\n<td style=\"width: 30.2211%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(c) Call centres<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 68.7961%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(v) Several MNCs have invested in setting up factories in India for production<\/span><\/td>\n<td style=\"width: 30.2211%;\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\">(a) Automobiles<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div class=\"table-responsive\" style=\"text-align: justify;\"><\/div>\n<p class=\"tenClassQues\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><strong>13.\u00a0Choose the most appropriate option. <\/strong><\/span><\/p>\n<p class=\"tenClassQues\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><strong>(i) The past two decades of globalisation has seen rapid movements in <\/strong><\/span><br \/>\n<span style=\"color: #000000; font-family: georgia, palatino, serif;\">(a) goods, services and people between countries.<\/span><br \/>\n<span style=\"color: #000000; font-family: georgia, palatino, serif;\">(b) goods, services and investments between countries.<\/span><br \/>\n<span style=\"color: #000000; font-family: georgia, palatino, serif;\">(c) goods, investments and people between countries.<br \/>\n<strong>Answer &#8211;\u00a0<\/strong>(b) goods, services and investments between countries.<br \/>\n<\/span><\/p>\n<p class=\"tenClassQues\"><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><strong>(ii) The most common route for investments by MNCs in countries around the world is to<br \/>\n<\/strong>(a) set up new factories.<\/span><br \/>\n<span style=\"color: #000000; font-family: georgia, palatino, serif;\">(b) buy existing local companies.<\/span><br \/>\n<span style=\"color: #000000; font-family: georgia, palatino, serif;\">(c) form partnerships with local companies.<br \/>\n<strong>Answer &#8211;\u00a0<\/strong>(b) buy existing local companies.<br \/>\n<\/span><\/p>\n<p><span style=\"color: #000000; font-family: georgia, palatino, serif;\"><strong>(iii) Globalisation has led to improvement in living conditions<br \/>\n<\/strong>(a) of all the people<\/span><br \/>\n<span style=\"color: #000000; font-family: georgia, palatino, serif;\">(b) of people in the developed countries<\/span><br \/>\n<span style=\"color: #000000; font-family: georgia, palatino, serif;\">(c) of workers in the developing countries<\/span><br \/>\n<span style=\"color: #000000; font-family: georgia, palatino, serif;\">(d) none of the above<br \/>\n<strong>Answer &#8211;\u00a0<\/strong>(d) none of the above<\/span><\/p>\n<p><span 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