Economics: Globalisation and the Indian Economy · Class 10 · CBSE Social Science
Explain how the 'liberalisation of foreign trade and foreign investment policy' acts as a catalyst for globalisation.
Practice question from Economics: Globalisation and the Indian Economy (Class 10 · CBSE Social Science), with the correct answer and a step-by-step solution.
medium · Subjective · Q-3BD337
Explain how the 'liberalisation of foreign trade and foreign investment policy' acts as a catalyst for globalisation.
Solution
Liberalisation involves removing government-imposed restrictions on trade and foreign investment. It facilitates smoother cross-border movement of goods, services, capital, and technology, integrating economies globally.
More from Economics: Globalisation and the Indian Economy
- What is the primary function of Multinational Corporations (MNCs)?
- Which of the following is a major factor that has stimulated the globalisation process across the world?
- What was the primary motive of the Indian government when it removed trade barriers around 1991?
- Which organisation monitors trade agreements and ensures that international trade rules are followed globally?
Practise more Social Science
Sign up free for adaptive practice on this chapter, with instant feedback and hints on every question.
Start practising freeFree to start · No credit card needed