Q1
What does globalisation refer to?
AIncreasing interconnection of countries
BComplete isolation of countries
COnly military alliances
DOnly cultural separation
CBSEClass 10 (CBSE)Social ScienceCh 21 · Topic 1
Understanding Globalisation
Globalisation refers to the increasing interconnection and interdependence of countries through trade, investment, technology, and cultural
Core concept
Globalisation has been driven by improvements in transportation and communication technology, making it easier and cheaper to move goods, services, and information across borders.
How it works
Trade liberalisation, reducing barriers like tariffs and quotas, has facilitated increased international trade, allowing companies to source materials and sell products globally.
Why it matters
Multinational corporations (MNCs) play a significant role in globalisation, often setting up production facilities in multiple countries to take advantage of lower costs or new markets.
Key detail
While globalisation has increased economic growth and cultural exchange, it has also raised concerns about job displacement, cultural homogenisation, and inequality between and within countries.
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• Globalisation means increasing interconnection between countries.
• It involves trade, investment, technology and cultural exchange.
• Improved transportation and communication technology drove globalisation.
• Trade liberalisation reduced barriers like tariffs.
• Multinational corporations (MNCs) play a major role.
• MNCs set up production in multiple countries.
• Globalisation has increased growth and cultural exchange.
• It has also raised concerns about inequality and job displacement.