{"id":10603,"date":"2020-10-01T10:11:11","date_gmt":"2020-10-01T04:41:11","guid":{"rendered":"https:\/\/ncertsolutions.guru\/?p=10603"},"modified":"2020-10-01T10:11:11","modified_gmt":"2020-10-01T04:41:11","slug":"ncert-solutions-for-class-10-social-science-economics-chapter-4","status":"publish","type":"post","link":"https:\/\/ncertsolutions.guru\/ncert-solutions-for-class-10-social-science-economics-chapter-4\/","title":{"rendered":"NCERT Solutions for Class 10 Social Science Economics Chapter 4 Globalisation and the Indian Economy"},"content":{"rendered":"

Globalisation and the Indian Economy Class 10 Questions and Answers Provided helps you to answer complex Questions too easily. You can use them while preparing for board exams and all of them are given by subject experts. Reading NCERT Solutions for Class 10 Social Science<\/a> Economics Chapter 4\u00a0Globalisation and the Indian Economy familiarizes you with the kind of questions appearing in the board exams. Students are advised to read these solutions on a regular basis to score well.<\/p>\n

Globalisation and the Indian Economy Class 10 Questions and Answers Economics Chapter 4<\/h2>\n

Make your learning experience enjoyable by preparing from the quick links available on this page. Use the Class 10 SST Economics Chapter 4 NCERT Solutions and get to know different concepts involved. All the Solutions are covered as per the latest syllabus guidelines. Knowing the NCERT Class 10 Economics Chapter 4 Questions and Answers helps students to attempt the exam with confidence.<\/p>\n

Globalisation and the Indian Economy NCERT Intext Questions and Answers<\/h3>\n

Let\u2019s Work These Out (NCERT Textbook page 59)<\/strong><\/p>\n

Read the passage on the (Textbook page) left and answer the questions:<\/p>\n

Question 1.
\nWould you say Ford Motors is an MNC? Why?
\nAnswer:
\nYes. Ford Motors is an MNC because it is one of the largest automobile manufacturers with production spread over 26 countries of the world.<\/p>\n

Question 2.
\nWhat is foreign investment? How much did Ford Motors invest in India?
\nAnswer:
\nInvestment made by MNCs is called foreign investment. Ford Motors invested Rs 1700 crore in India to set up a large plant near Chennai.<\/p>\n

Question 3.
\nBy setting up their production plants in India, MNCs such as Ford Motors tap the advantage not only of the large markets that countries such as India provide, but also the lower costs of production. Explain the statement.
\nAnswer:
\nMNCs set up offices and factories for production in regions where they can get cheap labour and other resources. This is done so that the cost of production is low and the MNCs can earn greater profits. MNCs also keep it in mind that their production units remain close to the markets where they can sell their product.<\/p>\n

\"NCERT<\/p>\n

Question 4.
\nWhy do you think the company wants to develop India as a base for manufacturing car components for its global operations? Discuss the following factors:
\n(a) cost of labour and other resources in India
\n(b) the presence of several local manufacturers who sypply auto parts to Ford Motors
\n(c) closeness to a large number of buyers in India and China.
\nAnswer:
\n(a) The cost of labour and other resources in India is low and therefore, affordable. This will help Ford Motors to strengthen its position in the global market.<\/p>\n

(b) Local manufacturers supply auto parts to Ford Motors at a lower cost. The company then sells these under their own brand names to the customers. In this way, it earns huge profits.<\/p>\n

(c) India and China are the two vast countries of the world. They form one-third of the global population and thus provide a huge market for various companies. This helps Ford Motors increase its sale and profitability.<\/p>\n

Question 5.
\nIn what ways will the production of cars by Ford Motors in India lead to interlinking of production?
\nAnswer:
\nThe company is making engines and body at its plant. It gets other components from various suppliers operating in India. Thus, India is providing a perfect base for all the operations related to production of cars for Ford Motors. So, we can say that proper interlinking of production is happening in India for this company.<\/p>\n

Question 6.
\nIn what ways is an MNC different from other companies?
\nAnswer:
\n(i) An MNC owns or controls production in more than one nation. It not only sells its finished products globally, but more importantly, the goods and services are produced globally. Other companies limit their operation to a single country or to a few countries.<\/p>\n

(ii) An MNC is able to take advantage of cheap labour and easier access to important markets. But other companies may not avail these facilities.<\/p>\n

\"NCERT<\/p>\n

Question 7.
\nNearly all major multinationals are American, Japanese or European, such as Nike, Coca- Cola, Pepsi, Honda, Nokia. Can you guess why?
\nAnswer:
\nThese countries are well-developed and have advanced technology which helps them to produce higher level of output. They use different products as per their need and sell the surplus products in other country markets.<\/p>\n

Let\u2019s Work These Out (NCERT Textbook page 61)<\/strong><\/p>\n

Question 1.
\nWhat was the main channel connecting countries in the past? How is it different now?
\nAnswer:
\nForeign trade was the main channel that connected countries in the past. History acknowledges us about the trade routes connecting India and South Asia to markets both in the East and West and the extensive trade that took place along these routes. Things have not changed much even today. Trade still is the main channel to connect the countries. However, tourism is also playing a major role in interconnecting places.<\/p>\n

Question 2.
\nDistinguish between foreign trade and foreign investment.
\nAnswer:
\nTrade with different countries is called foreign trade and it includes import and export. Foreign investment, on the other hand, is the inflow of capital from another country to our own country. Thus, foreign trade means flow of goods and foreign investment means inward flow of capital.<\/p>\n

\"NCERT<\/p>\n

Question 3.
\nIn recent years China has been importing steel from India. Explain how the import of steel by China will affect
\n(a) steel companies in China.
\n(b) steel companies in India.
\n(c) industries buying steel for production of other industrial goods in China.
\nAnswer:
\n(a) Chinese companies may find it difficult to compete with the import.
\n(b) Steel companies in India will prosper in their business.
\n(c) Consumers will avail better choice.<\/p>\n

Question 4.
\nHow will the import of steel from India into the Chinese markets lead to integration of markets for steel in the two countries? Explain.
\nAnswer:
\nThe Chinese companies will make various products of steel and will sell these products not only in the markets of China but in Indian markets as well. In this way, India can be an exporter of the raw material (steel) and an importer of finished products. This would lead to an integration of markets for steel in the two countries.<\/p>\n

Let\u2019s Work These Out (NCERT Textbook page 62)<\/strong><\/p>\n

Question 1.
\nWhat is the role of MNCs in the globalisation process?
\nAnswer:
\n(i) MNCs set up offices and factories for production in various parts of the world.<\/p>\n

(ii) They sell their finished products globally and more importantly, the goods and services are produced globally.<\/p>\n

(iii) Foreign investment by MNCs in various countries has been rising. At the same time, foreign trade between countries has been rising rapidly.<\/p>\n

(iv) MNCs control a large part of the foreign trade. For instance, the car manufacturing plant of Ford Motors in India not only produces cars for the Indian markets but also it exports cars to other developing countries and exports car components for its many factories around the world.<\/p>\n

(v) More and more goods and services, investments and technology are moving between countries. Most regions of the world are in closer contact with each other due to those MNCs. Thus, MNCs are playing a major role in the globalisation process.<\/p>\n

\"NCERT<\/p>\n

Question 2.
\nWhat are the various ways in which countries can be linked?
\nAnswer:
\nTrade, tourism and educational institutions play an important role in linking countries together. Internet and telecommunication are also helping in interlinking different countries of the world.<\/p>\n

Question 3.
\nChoose the correct option.
\nGlobalisation by connecting countries result in
\n(a) lesser competition among producers.
\n(b) greater competition among producers.
\n(c) no change in competition among producers.
\nAnswer:
\n(b) greater competition among producers.<\/p>\n

Let\u2019s Work These Out (NCERT Textbook page 63)<\/strong><\/p>\n

1. A news magazine published for London readers is to be designed and printed in Delhi. The text of the magazine is sent through Internet to the Delhi office. The designers in the Delhi office get orders on how to design the magazine from the office in London using telecommunication facilities. The designing is done on a computer. After printing, the magazines are sent by air to London. Even the payment of money for designing and printing from a bank in London to a bank in Delhi is done instantly through the Internet (e-banking)!<\/p>\n

Question 1.
\nIn the above example, underline the words describing the use of technology in production.
\nAnswer:
\nA news magazine published for London readers is to be designed and printed in Delhi. The text of the magazine is sent through Internet to the Delhi office. The designers in the Delhi office get orders on how to design the magazine from the office in London using telecommunication facilities. The designing is done on a computer. After printing, the magazines are sent by air to London. Even the payment of money for designing and printing from a bank in London to a bank in Delhi is done instantly through the Internet (e-banking)!<\/p>\n

\"NCERT<\/p>\n

Question 2.
\nHow is information technology connected with globalisation? Would globalisation have been possible without expansion of IT?
\nAnswer:
\nInformation Technology has brought about a revolutionary change in the world. It has also played an important role in globalisation. Telecommunication facilities have helped the people to come together from different parts of the world. Through the Internet, businesses are conducted in smooth way. Without expansion of Information Technology, globalisation would take a long time to happen. Through Information Technology any decision regarding business or other things can be taken within a very short span of time.<\/p>\n

Let\u2019s Work These Out (NCERT Textbook page 64)<\/strong><\/p>\n

Question 1.
\nWhat do you understand by liberalisation of foreign trade?
\nAnswer:
\nLiberalisation of foreign trade means reducing or removing various trade barriers. With the liberalisation of trade, businesses are allowed to make decisions freely about what they wish to import or export.<\/p>\n

Question 2.
\nTax on imports is one type of trade barrier. The government could also place a limit on the number of goods that can be imported. This is known as quotas. Can you explain, using the example of Chinese toys, how quotas can be used as trade barriers? Do you think this should be used? Discuss.
\nAnswer:
\nQuotas can be used as trade barriers in case of Chinese toys. Once this is done, the Indian toy makers will not face losses. Instead they will be in a position to sell their products. This will prove beneficial for both the Indian toy manufacturers and employees. So far my opinion is concerned, this should be used to protect Indian producers within the country from foreign competition.<\/p>\n

Let\u2019s Work These Out (NCERT Textbook page 66)<\/strong><\/p>\n

Question 1.
\nFill in the blanks.
\nWTO was started at the initiative of countries. …………(a) ……….. The aim of the WTO is to …………(b) ……….. WTO establishes rules regarding ………..(c) ………..for all countries, and sees that ………..(d) ……….. In practice, trade between countries is not ………..(e) ……….. Developing countries like India have ………..(f) ……….. whereas developed countries, in many cases, have continued to provide protection to their producers.
\nAnswer:
\n(a) developed
\n(b) liberalise foreign trade
\n(c) international trade
\n(d) these rules are obeyed
\n(e) free
\n(f) removed trade barriers<\/p>\n

\"NCERT<\/p>\n

Question 2.
\nWhat do you think can be done so that trade between countries is more fair?
\nAnswer:
\nRemoval of trade barriers from all countries is very important because only their will ensure a fair international trade. Developed countries should not force the developing countries to remove trade barriers particularly when they themselves unfairly retain them.<\/p>\n

Question 3.
\nIn the example given on Textbook Page 65, we saw that the US government gives massive sums of money to farmers for production. At times, governments also give support to promote production of certain types of goods, such as those which are environmentally friendly. Discuss whether these are fair or not.
\nAnswer:
\nThe support that the US government gives to promote production of certain types of goods which are environment friendly are not justified. Different goods acquire unmerited competitive strength with each support measure. It adversely affects the producers of these commodities in the countries which import these goods, irrespective of whether they are environment friendly or not. If the developing countries raise trade barriers against such measure that hurt their market, then that will be quite appropriate measure.<\/p>\n

Let\u2019s Work These Out (NCERT Textbook page 67)<\/strong><\/p>\n

Question 1.
\nHow has competition benefited people in India?
\nAnswer:
\nGlobalisation has brought competition among producers\u2014both local and foreign producers. This competition has benefited people in India in a variety of ways:<\/p>\n