Economics
Answer
Globalisation refers to the interconnectedness and integration of economies, cultures, and societies across the world. It involves the flow of goods, services, capital, information, and people beyond national borders. In simpler terms, it’s like the world becoming a smaller, more interconnected place where ideas, products, and influences travel freely. Globalisation impacts various aspects of our lives, from trade and technology to cultural exchange and geopolitical relations.
Related Questions
What can be done by each of the following so that the workers can get a fair share of benefits brought by globalisation?
(a) government
(b) employers at the exporting factories
(c) MNCs
(d) workers.
One of the present debates in India is whether companies should have flexible policies for employment. Based on what you have read in the chapter, summarise the point of view of the employers and workers.
What were the reasons for putting barriers to foreign trade and foreign investment by the Indian government? Why did it wish to remove these barriers?
How would flexibility in labour laws help companies?