Over the last two decades or so, the economic transformation that is taking place in different countries across the world, partly because of the process of globalisation, has both short as well as long-term implications for each country, including India. Nations have been primarily trying to adopt various means which will strengthen their own domestic economies. To this effect, they are forming regional and global economic groupings such as the SAARC, European Union, ASEAN, G-8, G-20, BRICS etc. In addition, there is also an increasing eagerness on the parts of various nations to try and understand the developmental processes pursued by their neighbouring nations. In the unfolding process of globalisation, this is particularly considered essential by developing countries as they face competition not only from developed nations but also amongst themselves in the relatively limited economic space enjoyed by the developing world.

There are two statements marked as Assertion (A) and Reason (R). Mark your answer as per the options given below.

Assertion: EU was founded to enhance political, economic and social cooperation within the European continent.
Reasoning: All the European countries are part of the EU.

Assertion (A) is true but Reasoning (R) is not correct.

The correct answer is option 3: Assertion (A) is true but Reasoning (R) is not correct.

Assertion: EU was founded to enhance political, economic and social cooperation within the European continent. This is correct.
Reasoning: All the European countries are part of the EU. This is false. Not all European countries are part of the EU. For example, countries like UK, Norway and Switzerland are not EU members.

"European Union : It is a union of twenty-seven independent states (in 2024) founded to enhance political, economic and social cooperation within the European continent. The member countries of European Union are Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden."

From 31 January 2020, the United Kingdom is no longer part of the European Union.