Economics: Globalisation and the Indian Economy · Class 10 · CBSE Social Science
Which of the following is a major factor that has stimulated the globalisation process across the world?
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 · MCQ · Q-594AF4
Which of the following is a major factor that has stimulated the globalisation process across the world?
- A.Imposition of heavy trade barriers by governments
- B.Rapid improvements in information and communication technologyCorrect answer
- C.Strict regulations on foreign direct investment
- D.Decline in international transport networks
Solution
Technology, especially in information and communication (IT), has made it much easier and faster to access information, coordinate global production, and communicate across borders, thereby driving globalisation.
More from Economics: Globalisation and the Indian Economy
- What is the primary function of Multinational Corporations (MNCs)?
- Explain how the 'liberalisation of foreign trade and foreign investment policy' acts as a catalyst for globalisation.
- 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?
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