Class 10 Social Science - Understanding Economic Development - Chapter Globalisation and the Indian Economy NCERT Solutions | “The impact of globalisation has n

How has liberalisation of trade and investment policies helped the globalisation process?

Globalisation will continue in the future. Can you imagine what the world would be like twenty years from now? Give reasons for your answer.

Fill in the blanks.
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 _____________. While consumers have more choices in the market, the effect of rising _______________ and ______________has meant greater ________________among the producers.

What was the reason for putting barriers to foreign trade and foreign investment by the Indian government? Why did it wish to remove these barriers?

Match the following.

Supposing you find two people arguing: One is saying globalisation has hurt our country’s development. The other is telling, globalisation is helping India develop. How would you respond to these organisations?

How would flexibility in labour laws help companies?

How does foreign trade lead to the integration of markets across countries? Explain with an example other than those given here.

Choose the most appropriate option.
(i) The past two decades of globalisation has seen rapid movements in
(a) goods, services and people between countries.
(b) goods, services and investments between countries.
(c) goods, investments and people between countries.

(ii) The most common route for investments by MNCs in countries around the world is to
(a) set up new factories.
(b) buy existing local companies.
(c) form partnerships with local companies.

(iii) Globalisation has led to an improvement in living conditions
(a) of all the people
(b) of people in developed countries
(c) of workers in the developing countries
(d) none of the above

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

Development of a country can generally be determined by
(i) its per capita income
(ii) its average literacy level
(iii) health status of its people
(iv) all the above

Fill in the blanks using the correct option given in the bracket:

(i) Employment in the service sector _________ increased to the same extent as production. (has / has not)
(ii) Workers in the _________ sector do not produce goods. (tertiary agricultural)                                                                                                         (iii) Most of the workers in the _________ sector enjoy job security. (organised / unorganised)
(iv) A _________ proportion of labourers in India are working in the unorganised sector. (large / small)
(v) Cotton is a _________ product and cloth is a _________ product. (natural / manufactured)
(vi) The activities in primary, secondary and tertiary sectors are _________. (independent / interdependent)

In situations with high risks, credit might create further problems for the borrower. Explain?

Why are rules and regulations required in the marketplace? Illustrate with a few examples.

Which of the following neighbouring countries has better performance in terms of
human development than India?
(i) Bangladesh
(ii) Sri Lanka
(iii) Nepal
(iv) Pakistan

Choose the most appropriate answer.
(a) The sectors are classified into public and private sector on the basis of:
(i) employment conditions
(ii) the nature of economic activity
(iii) ownership of enterprises
(iv) number of workers employed in the enterprise

(b) Production of a commodity, mostly through the natural process, is an activity in ______________ sector.
(i) primary
(ii) secondary
(iii) tertiary
(iv) information technology

(c) GDP is the total value of _____________ produced during a particular year.
(i) all goods and services
(ii) all final goods and services
(iii) all intermediate goods and services
(iv) all intermediate and final goods and services

(d) In terms of GDP the share of tertiary sector in 2003 is _________
(i) between 20 per cent to 30 per cent
(ii) between 30 per cent to 40 per cent
(iii) between 50 per cent to 60 per cent
(iv) 70 per cent

How does money solve the problem of double coincidence of wants? Explain with example of your own.

What factors gave birth to the consumer movement in India? Trace its evolution?

Assume there are four families in a country. The average per capita income of
these families is Rs 5000. If the income of three families is Rs 4000, Rs 7000
and Rs 3000 respectively, what is the income of the fourth family?
(i) Rs 7500
(ii) Rs 3000
(iii) Rs 2000
(iv) Rs 6000

Match the following:

Say True or False.

1. COPRA applies only to goods.
2. India is one of the many countries in the world which has exclusive courts for consumer redressal.
3. When a consumer feels that he has been exploited, he must file a case in the District Consumer Court.
4. It is worthwhile to move to consumer courts only if the damages incurred are of high value.
5. Hallmark is the certification maintained for standardisation of jewellry.
6. The consumer redressal process is very simple and quick.
7. A consumer has the right to get compensation depending on the degree of the damage.

“Tertiary sector is not playing any significant role in the development of Indian
economy.” Do you agree? Give reasons in support of your answer.

Do you think the classification of economic activities into primary, secondary and tertiary is useful? Explain how.

Analyse the role of credit for development.

Look at a 10 rupee note. What is written on top? Can you explain this statement?
“Reserve Bank of India” and “Guaranteed by the Government” are written on top.

The following tables gives the GDP in Rupees (Crores) by the three sectors:

i. Calculate the share of the three sectors in GDP for 1950 and 2000.

ii. Show the data as a bar diagram similar to Graph 2 in the chapter.

iii. What conclusions can we draw from the bar graph?

 Mention some of the rights of consumers and write a few sentences on each?

Critically examine the progress of the consumer movement in India?

Development of a country can generally be determined by
(i) its per capita income
(ii) its average literacy level
(iii) health status of its people
(iv) all the above

 In what ways does the Reserve Bank of India supervise the functioning of banks? Why is this necessary?