Match the LIST-I with LIST-II
| LIST-I Dimension of Globalization | LIST-II Impact | ||
| A. | The policy of Liberalization | I. | Just-in-time production |
| B. | Transnational production process | II. | Internet Banking |
| C. | Electronic Economy | III. | Rise of BPOs in India |
| D. | Knowledge Economy | IV. | Time slavery |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → A-III, B-I, C-II, D-IV
(A) The policy of Liberalization — this matches (III) Rise of BPOs in India. Liberalisation opened the Indian economy to the world market from 1991. Once it was open, firms abroad could give work to Indian companies, and business process outsourcing (such as call centres) became one of the main ways India is connected to the global economy.
(B) Transnational production process — this matches (I) Just-in-time production. Production is no longer done at one place: parts are made by suppliers spread out round, or far from, the main factory and sent just in time for assembly, which keeps costs low.
(C) Electronic Economy — this matches (II) Internet Banking. In the electronic economy banks, corporations and investors can shift funds with the click of a mouse; banking over the internet is this kind of electronic money movement.
(D) Knowledge Economy — this matches (IV) Time slavery. In a knowledge economy most workers design, develop and service rather than make goods, as in the IT sector. Its long working days of 10–12 hours and nights spent in office for deadlines are described as ‘time slavery’.