Topics:
CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books
Globalisation Definition
Globalisation is generally understood to mean:
- Restriction of trade to neighbouring countries only
- Integration of the economy of the country with the world economy — Correct Answer
- Complete government control over foreign trade
- Isolation from international markets
Explanation:
Correct Answer Explanation
Globalisation means integration of the economy of the country with the world economy.
Key Points:
- It is a complex phenomenon — outcome of various policies aimed at greater interdependence and integration.
- Involves creation of networks transcending economic, social, and geographical boundaries.
- Turning the world into one whole or creating a borderless world.
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This multiple choice question is from CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL to strengthen your preparation.
