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NCERT Solutions for Class 10 Economics Chapter 4 Globalisation and the Indian Economy

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Last updated date: 23rd Jul 2024
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Class 10 Economics Globalisation and The Indian Economy Questions Answers - FREE PDF Download

Globalisation and The Indian Economy Class 10 Questions Answers explains the impact of globalisation on India's economy. It explains how globalisation has increased connections between countries, affecting trade, investment, and technology. The chapter explores the role of multinational corporations, changes in production methods, and the effects on different sectors of the Indian economy. 

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Table of Content
1. Class 10 Economics Globalisation and The Indian Economy Questions Answers - FREE PDF Download
2. Glance on NCERT Solutions for Class 10 Economics Chapter 4 Globalisation and the Indian Economy
3. Access NCERT Solutions for Class 10 Economics Chapter 4 - Globalisation and the Indian Economy
4. Topics Covered in Class 10 Economics Chapter 4 Globalisation and the Indian Economy
5. Benefits of NCERT Solutions for Class 10 Economics Chapter 4 Globalisation and the Indian Economy 
6. NCERT Solutions for Class 10 Economics - Other Chapter-wise Links for FREE PDF
7. Related Important Links for Class 10 Economics
FAQs


Class 10 Economics NCERT Solutions Chapter 4 provides clear answers to all the textbook questions, helping students understand these topics and prepare for their exams. These solutions aim to clarify the important economic changes that globalisation has introduced, and for more refer to Class 10 Social Science Syllabus.


Glance on NCERT Solutions for Class 10 Economics Chapter 4 Globalisation and the Indian Economy

  • Globalisation and Indian Economy Class 10 examines how globalisation influences trade dynamics between countries, impacting India's import and export markets significantly.

  • It explores how globalisation attracts investments from international companies, shaping India's economic landscape through foreign capital inflows.

  • Factors of Globalisation Class 10 delves into how globalisation facilitates the exchange of technology, fostering innovation and modernization across various sectors of India's economy.

  • It analyses the operational strategies of multinational corporations within India, highlighting their impact on local industries, job markets, and economic growth.

  • The discussion covers the transformation in manufacturing practices and supply chains as a result of globalisation, impacting productivity and sectoral growth in India.

  • This chapter explores how globalisation influences income distribution, employment patterns, and socio-economic disparities within Indian society.

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Access NCERT Solutions for Class 10 Economics Chapter 4 - Globalisation and the Indian Economy

1. What do you understand about globalization? Explain in your own words.

Ans: The term "globalization" refers to the process of integrating a country's economy with the economies of other countries under the conditions of free trade, money, and people move across national borders.


It involves:

  • An increase in international trade.

  • The export and import of products manufactured and associated techniques.

  • Capital and financial flows from one country to another.

  • Human migration from one country to another.


2. 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?

Ans: To protect indigenous producers from international competition, the Indian government erected barriers to foreign trade and foreign investment, especially when industries were only starting to emerge in the 1950s and 1960s. Import competition would have been a death blow to expanding industry at the time. As a result, India only authorized imports of necessary products.


The government wanted to abolish these obstacles in 1991's New Economic Policy because it believed domestic producers were ready to compete with foreign companies.


Foreign competition, it was believed, would actually increase the quality of goods produced by Indian industry. This judgment was also backed by a number of influential international organizations.


3. How would flexibility in labor laws help companies?

Ans: Companies will be more competitive and progressive if labor rules are more flexible. Companies can negotiate compensation and fire employees based on market factors if labor rules are relaxed. The company's competitiveness will improve as a result of this.


4. What are the various ways in which MNCs set up, or control, production in other countries?

Ans: Multinational Corporations (MNCs) locate their factories or production units in markets where they can obtain the appropriate type of skilled or unskilled labour, as well.


As other production inputs, at affordable costs. MNCs establish production units in the following methods after ensuring these conditions:

  • In collaboration with a few current country's local businesses.

  • Purchase local businesses and use contemporary technology to expand their operations.

  • They place orders with small producers and offer the products to customers all over the world under their own brand name.


5. Why do developed countries want developing countries to liberalize their trade and investment? What do you think the developing countries demand in return?

Ans: Developed countries desire developing countries to liberalize trade and investment so that their multinational corporations (MNCs) can set up factories in less-expensive developing countries and enhance profits with reduced production costs and the same selling price.


In exchange, emerging countries should seek some form of protection for native producers against import competition, in my opinion. Charges should also be imposed on multinational corporations trying to establish a presence in developing countries.


6. “The impact of globalization has not been uniform.” Explain this statement.

Ans: “Globalization has not had a uniform impact.” It has benefited only trained and professional people in cities, not the unskilled. Globalization has benefited the industrial and service sectors far more than agriculture. It benefited multinational corporations at the expense of domestic producers and the industrial working class. Competition from cheaper imports has affected small producers of goods including batteries, capacitors, plastics, toys, tyres, dairy products, and vegetable oil.


7. How has liberalization of trade and investment policies helped the globalization process?

Ans: Liberalization of trade and investment policies has aided globalization by facilitating cross-border commerce and investment. To protect indigenous industry, numerous emerging countries had previously erected obstacles and restrictions on foreign imports and investments. These countries, on the other hand, have lowered the obstacles in order to boost the quality of their local commodities. As a result, liberalization has aided the development of globalization by allowing enterprises to make their own import and export decisions. As a result, national economies have become more integrated into a single composite whole.


8. How does foreign trade lead to an integration of markets across countries? Explain with an example. 

Ans: Foreign trade allows both manufacturers and consumers to enter markets outside of their own countries. Merchandise is transported from one country to another. Competition reigns supreme among producers from many countries, as well as purchasers. As a result, cross-border trade leads to market integration.


During the Diwali season, for example, Indian shoppers can choose between Indian and Chinese ornamental lights and bulbs. As a result, this presents an opportunity to grow your business.


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

Ans: After twenty years, the globe will have undergone a positive transformation characterized by healthy rivalry, improved production efficiency, increased volume of output, revenue, and employment, higher living standards, and greater access to information and contemporary technology.


The following are the reasons for the above-mentioned points of view. These are the factors that favor globalization:

  • Human resource availability, both in terms of quantity and quality.

  • Major countries have a diverse resource and industrial base.

  • Increasing the number of entrepreneurs.

  • Domestic market is expanding.


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


Ans: India's benefits of globalization include:

  • An increase in the number of commodities and services traded.

  • Private foreign capital inflows and the economy's export orientation

  • Increases output volume, income, and employment.


Topics Covered in Class 10 Economics Chapter 4 Globalisation and the Indian Economy

S.No.

Economics Chapter 4 Class 10 Globalisation and the Indian Economy Topics

1

Production Across Countries

2

Interlinking Production Across Countries 

3

Foreign Trade and Integration of Markets 

4

What Is Globalisation?

5

Factors That Have Enabled Globalisation

  • Technology

  • Liberalisation of Foreign Trade and Foreign Investment Policy

6

World Trade Organisation 

7

Impact of Globalisation In India

  • Competition and Uncertain Employment 

8

The Struggle For A Fair Globalisation 



Benefits of NCERT Solutions for Class 10 Economics Chapter 4 Globalisation and the Indian Economy 

  • Benefits of NCERT Solutions for Class 10 Economics Chapter 4 Globalisation and the Indian Economy.

  • Detailed answers to textbook questions help students prepare thoroughly for exams by covering all important topics.

  • By using Globalisation and The Indian Economy Class 10 Questions Answers, students can enhance their knowledge and grasp the significant changes brought about by globalisation in India.

  • Factors of Globalisation Class 10 solutions provide clarity on how multinational companies operate, changes in manufacturing practices, and the socio-economic impacts of globalisation.

  • Students can apply the knowledge gained from these solutions to real-world scenarios, improving their understanding of economic principles.

  • Understanding these concepts improves student’s confidence in tackling questions related to globalisation and the Indian economy in exams.


Along with Class 10 Economics NCERT Solutions, you can also refer to Class 10 Globalisation and the Indian Economy Revision Notes.


Conclusion

NCERT Solutions for Economics Chapter 4 - Globalisation and Indian Economy Class 10 explores how globalisation shapes India's economy. By looking at how it affects trade, investments, technology, and multinational corporations, students learn about current economic trends. Globalisation and Indian Economy Class 10 solutions explain clearly and give detailed answers to textbook questions, helping students understand the challenges of globalisation. They prepare students well for exams by covering all important topics and improving their critical thinking skills. In the end, these solutions help students understand and study the changing economy of India in the world.


NCERT Solutions for Class 10 Economics - Other Chapter-wise Links for FREE PDF

Dive into our FREE PDF links offering chapter-wise NCERT solutions prepared by Vedantu Experts, to help you understand and master the social concepts.


S.No.

NCERT Solutions for Social Science Class 10 Economics Other Chapter-wise Links

1

Chapter 1: Development

2

Chapter 2: Sectors of The Indian Economy

3

Chapter 3: Money and Credit

4

Chapter 5: Consumer Rights



Related Important Links for Class 10 Economics

FAQs on NCERT Solutions for Class 10 Economics Chapter 4 Globalisation and the Indian Economy

1. How to Download the NCERT Solutions for Globalisation and The Indian Economy Class 10 Questions Answers PDF?

It is fairly easy to download these NCERT Solutions. As they are in the PDF format, you can even take printouts and refer to them in the future.

2. What role does technology play in India's economy under globalisation in Globalisation and Indian Economy Class 10?

Technology transfer and advancements under globalisation have boosted productivity and innovation in sectors like IT, telecommunications, and manufacturing, contributing to India's economic growth.

3. Will these solutions help in time management in Globalisation and Indian Economy, Class 10?

Practising with these solutions would allow you to get a basic understanding of how much time is required to answer each question.

4. How many questions are present in NCERT Solutions for Globalisation  and Indian Economy Class 10?

The Class 10 Social Science Chapter 4 Globalization NCERT Solutions consist of 13 questions. The answers are given in an appropriate format with the essential points which will be easy for students to remember. Students referring to the NCERT solutions and preparing the answers can be confident and will be able to write the answers, framing the sentences by themselves. This helps to remember the answers for a long time.

5. How is globalisation  defined according to NCERT Solutions for Globalization and Indian Economy Class 10?

Globalisation can be defined as the result of the increase in foreign trade and foreign investment and the increase in markets across the world. This can also be stated as the interconnection between the countries. Globalisation has been the improvement in technology, for instance, transportation technology has made remarkable changes as the delivery of goods is faster at a low cost. This is fast developing, and the people are beneficial due to this.

6. How has globalisation  helped the Indian economy according to Class 10 Globalisation and The Indian Economy Question Answer?

Globalization helped the Indian economy enormously. There has been a great improvement, especially in transportation technology, which has made the delivery of the goods faster for long distances and at economical cost. Information technology has also played a very important role for the MNC’S as the transfer of information is very important for such companies. This has made the work faster and the cost is maintained in all the companies, further making the increase in the profit.

7. What has led to Globalisation ? What important role does it play in Class 10 Globalisation and The Indian Economy Question Answer?

Globalisation has been the result of the increase in foreign trade and markets across the world. Globalisation has played a very important role in the improvement of transportation and information technology. Transportation has resulted in the faster delivery of goods at a lower cost. Information technology has been useful for MNCs to transfer information. Globalisation  plays a vital role in a country's development. You can refer to Vedantu for further details about Class 10 Globalisation and The Indian Economy Question Answer. These solutions are available at free of cost on Vedantu’s website.

8. What is Class 10 Economics Chapter 4 Questions and Answers all about?

Class 10 Globalisation and The Indian Economy Question Answer has explained globalisation across the world and the factors for the development of globalisation . The chapter has also given details about the improvement of transportation technology and liberalisation. There has been an increase in foreign trade and foreign investments across the countries. Globalisation  is the interaction and integration between people, companies and countries. This is an important chapter and has to be read and understood so students can write the answers easily.

9. How do multinational corporations impact India's economy under globalisation  in Class 10 Economics Chapter 4 Questions and Answers?

Multinational corporations (MNCs) bring capital, technology, and expertise to India but also affect local industries and employment patterns. Their operations can lead to economic growth but also pose challenges to local businesses.

10. What are the benefits of globalisation  for India in Class 10 Economics Chapter 4 Questions and Answers?

Globalisation  has opened up opportunities for Indian businesses to expand globally, attract foreign investments, and access advanced technology. It has also contributed to economic modernization and integration into the global economy.

11. What are the challenges of globalisation  for India's economy in Class 10 Economics Chapter 4 Questions and Answers?

Challenges include increased competition for local industries, potential job losses due to automation and outsourcing, and economic inequality between different regions and social groups.