Read the passage and answer the following question: Globalisation involves a stretching of social and economic relationships throughout the world. This becomes possible through the introduction of certain policies. This process is broadly known as liberalisation in India. Liberalisation technically involves steady removal of rules that regulated trade and finance regulations. Once these are done, it constitutes economic reforms. Besides this liberalisation as a process also involves taking loans from international institutions such as International Monetary Fund (IMF). It is important to mention that certain condition are imposed before loans are sanctioned to a country, which thereby leads to introduction of new economic measures. These conditions constitute the Structural Adjustments. These adjustments usually mean cuts in state expenditure on social sector. |
Globalisation involves : |
Opening of Borders for market Decreasing social relations globally Shrinking of Borders Increasing the government control on markets |
Opening of Borders for market |
The correct answer is Option (1) → Opening of Borders for market Globalization involves "Opening of Borders for market." It refers to the increasing interconnectedness and integration of economies and societies around the world, often facilitated by policies that promote international trade, investment, and the movement of goods, services, capital, and people across borders. |