Growth of capitalism has led to which of the following?
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Extension of markets
Option (1) Extension of markets — Correct. The growth of capitalism around the world has meant the extension of markets into places and spheres of life that were previously untouched by this system. Things that were earlier not traded become commodities; labour or skills, for instance, become things that can be bought and sold.
NCERT (2025-26): “Commoditisation and Consumption … The growth of capitalism around the world has meant the extension of markets into places and spheres of life that were previously untouched by this system. Commodification occurs when things that were earlier not traded in the market become commodities. For instance, labour or skills become things that can be bought and sold.…” “…There are many different ways and levels at which goods, services, cultural symbols, money, and so on, circulate — from the local market in a village or town right up to a global trading network such as the Nasdaq.…” |