What is the international movement of commodities, money, information, technology known as?
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → Globalisation
Option (1) Modernisation — Incorrect. Modernisation is a change in ways of thinking and living: technology, choice, a scientific outlook. It is not the movement of goods and money between countries.
Option (2) Westernisation — Incorrect. Westernisation is the adoption of Western ways of life (dress, food, habits) that came with British rule. It is about culture, not about international flows of commodities and money.
Option (3) Liberalisation — Incorrect. Liberalisation is the policy change from state-led development to market forces, which India adopted from the late 1980s. It opened the door to globalisation, but it is the policy, not the international movement itself.
Option (4) Globalisation — Correct. Globalisation is a period in which the world becomes increasingly interconnected. It includes the increase in international movement of commodities, money, information and people, and the technology and infrastructure that allow this movement. Its central feature is the integration of markets around the world.
NCERT (2025-26): “4.3 Globalisation – Interlinking of Local, Regional, National and International Markets Since the late 1980s, India has entered a new era in its economic history, following the change in economic policy from one of state-led development to liberalisation. This shift also ushered in the era of globalisation, a period in which the world is becoming increasingly interconnected — not only economically but also culturally and politically. The term globalisation includes a number of trends, especially the increase in international movement of commodities, money, information, and people, as well as the development of technology (such as in computers, telecommunications, and transport) and other infrastructure to allow this movement. A central feature of globalisation is the increasing extension and integration of markets around the world.…” |