Q7 of 11 Page 143

How does foreign trade lead to the integration of markets across countries? Explain with an example other than those given in this chapter.

Foreign trade has been the foremost factor of linking two nations. Even in past trading led to the discovery of many nations. British came to India with the lure of trading in the Indian market.

When a trade occurs goods travel from one nation to another nations’ market, competition increases in the market and choices of goods in market increases. The producers from two different countries with each other although they are separated by miles.


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5

“The impact of globalization has not been uniform.” Explain this statement.

 6

How has liberalization of trade and investment policies helped the process of globalization?

 8

Globalization will continue in the future. Can you imagine what the world would like twenty years from now? Give reasons for your answer.

 9

Supposing you find two people arguing: One is saying globalization has hurt our country’s development. The other argues that globalization is helping India to develop.

How would you respond to these arguments?