Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:

Although globalisation is generally understood to mean integration of the economy of the country with the world economy, it is a complex phenomenon. It is an outcome of the set of various polices that are aimed at transforming the world towards greater interdependence and integration. It is turning the world into one whole or creating a borderless world. Outsourcing is one of the important outcomes of the globalisation process. In outsourcing a company hires regular service from external sources, mostly from other countries, which was previously provided internally or from within the country. As a form of economic activity, outsourcing has intensified in recent times because of the growth of fast modes of communication, particularly the growth of information Technology (IT). India have become a favourite global outsourcing destination in the post reform period.

Due to globalisation, exports of agricultural products have _______ in the post reform period.

Options:

Increased

Decreased

Remained constant

Become zero

Correct Answer:

Increased

Explanation:

The correct answer is option (1) : Increased

Globalization has generally led to increased market access and opportunities for agricultural products from various countries. This expansion of markets, reduction in trade barriers, and integration into global supply chains have facilitated higher exports of agricultural goods from many nations, including those undergoing economic reforms.