What are the features of globalisation?
(A) Movement of population, MNCs
(B) Opening up of economy, loss of livelihood
(C) Globalisation of finance and communication
(D) Restriction on import and export of goods
Choose the correct answer from the options given below.
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → (A), (B), (C) only
(A) Movement of population, MNCs Correct. Globalisation today identifies large-scale movement of people, or migration, as a defining feature. Among the economic forces driving it, transnational or multinational corporations such as Coca Cola, General Motors and Colgate-Palmolive, which produce or sell in more than one country, are particularly important.
(B) Opening up of economy, loss of livelihood Correct. Globalisation came with liberalisation, the opening up of the economy to foreign goods and firms. Its effects differ: what means greater choice for the urban, affluent consumer may mean a crisis of livelihood for a farmer.
(C) Globalisation of finance and communication Correct. Mainly due to the information technology revolution, there has been a globalisation of finance: globally integrated financial markets carry out billions of dollars worth of transactions within seconds. Faster communication through the new technology links the world in the same way.
(D) Restriction on import and export of goods Incorrect. Globalisation means the opposite. It removes restrictions so that goods, capital and services move freely across borders, which is why Australian apples and orange juice now reach a neighbourhood store in India.
NCERT (2025-26): “6.1 Are Global Interconnections New to World and to India … Often globalisation today identifies large-scale movement of people or migration as a defining feature. You know, however, that perhaps the greatest movement of people was the migration of European people who settled down in the Americas and Australia.…” “…TNCs are companies that produce goods or market services in more than one country. These may be relatively small firms with one or two factories outside the country in which they are based. They could also be gigantic international ones whose operations crisscross the globe. Some of the biggest MNCs are companies known all around the world: Coca Cola, General Motors, Colgate-Palmolive, Kodak, Mitsubishi and many others.…” “…The same set of policy changes affects consumers and producers differently. What may mean greater choices for the urban, affluent consumer may mean a crisis of livelihood for a farmer.…” “e. Globalisation of finance … It should also be noted that for the first time, mainly due to the information technology revolution, there has been a globalisation of finance. Globally integrated financial markets undertake billions of dollars worth transactions within seconds in the electronic circuits.…” |