Match the following.

(i) MNCs buy at cheap rates from small

(ii) Quotas and taxes on imports are used to

(iii) Indian companies who have

(iv) IT has helped in the spreading of

(v) Several MNCs have invested in setting

(a) Automobiles producers

(b) Garments, footwear, sports regulate trade items

(c) Call centers

(d) Tata Motors, Infosys, Ranbaxy production of services

(e) Trade barriers up factories in India for production

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

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

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?

Fill in the blanks.

Indian buyers have a greater choice of goods than they did two decades back. This is closely associated with the process of __________. Markets in India are selling goods produced in many other countries. This means there is increasing ___________ with other countries. Moreover, the rising number of brands that we see in the markets might be produced by MNCs in India. MNCs are investing in India because ____________ _______ . While consumers have more choices in the market, the effect of rising ___________ and ____________has meant greater __________among the producers.