NCERT Solutions for Class 10 Economics Chapter 4 – Globalisation and the Indian Economy
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Economics deals with the best possible consumption of resources without wasting them. Also, the subject is very practical and holds an essential place in education. So for performing well in exams, NCERT Solutions play a crucial role.
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CBSE Class 10 Economics Chapter 4 Globalisation and Indian Economy NCERT Solutions
Globalisation refers to the process of collaboration and integration of government or companies worldwide. Also, in globalisation, the domestic market opens up for foreign companies to invest in them. Besides, it makes trade between countries easier.
Introduction- It makes us aware of the choices we have related to all the good present in the market. Also, how we have more choices in comparison to 20 years earlier.
Sub-topics covered under NCERT Solutions for Class 10 Economics Chapter 4
4.1 Production Across Countries- This topic talks about how trade changes in the latter half of the 20th century. Also, the topic mentions MNCs (Multi-National Companies). Apart from that, how MNCs work globally to provide goods and services.
4.2 Interlinking Production Across Countries- This topic covers how MNCs set up production units. Also, how it considers the various favorable factor for its production. Apart from that, it tells how MNCs buys a local business and expands its production. Also, the topic mentions other ways by MNCs produces things.
4.3 Foreign Trade and Integration of Markets- This topic talks about how foreign trade links market and how trade between them carries out. Also, the topic is cleared by gives an example of Chinese products which are sold in India. As a result, competition between local and foreign producer rises and results in the integration of the market.
4.4 What is Globalisation? – Globalization is a process of combination or interconnection of countries. Also, the topic deals with how globalization benefits countries and MNCs.
4.5 Factors that have Enabled Globalisation- This topic include various sub-heading like:
- Technology- This tells how technological advancement encouraged globalisation.
- Liberalisation of Foreign Trade and Foreign Investment Policy- Tells how the change in foreign trade policy motivates globalisation.
4.6 World Trade Organisation- This topic covers the WTO and also when it was established, its total member, etc. Apart from that its major function is to monitor international trade between countries.
4.7 Impacts of Globalisation in India- This topic covers all the good and bad things that happen in India after globalisation. Also, the topic mentions some examples related to it.
4.8 The Struggle for a Fair Globalisation- This topic covers the struggles which were faced by people due to gloablisation. Also, it discusses the ways by which fair globalization is achievable.
Summing Up- Concludes the chapter in some short paragraphs that cover all the topic of the chapter.
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