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Question
What do you understand by globalisation? Explain in your own words.
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Solution
Globalisation means integrating the economy of a
country with the economies of other countries under conditions of free flow of
trade, capital and movement of persons across borders. It includes
(i) Increase
in foreign trade
(ii) Export
and import of techniques of production.
(iii) Flow of
capital and finance from one country to another
(iv) Migration
of people from one country to another.
Globalisation means integrating the economy of a
country with the economies of other countries under conditions of free flow of
trade, capital and movement of persons across borders. It includes
(i) Increase
in foreign trade
(ii) Export
and import of techniques of production.
(iii) Flow of
capital and finance from one country to another
(iv) Migration
of people from one country to another.
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