Important short questions with answer's from the chapter globalization

 

1. What is globalization?

Integration of economies, cultures, and policies across the globe.

2. Which sector is most affected by globalization?

Economy.

3. Name one key feature of globalization.

Free flow of goods and services.

4. Which technology has boosted globalization?

Information and Communication Technology (ICT).

5. Which organization promotes free global trade?

World Trade Organization (WTO).

6. What is economic globalization?

The increasing interdependence of world economies.

7. When did globalization accelerate?

In the 1990s.

8. Which country is considered a key player in globalization?

United States.

9. Name one Indian sector that gained from globalization.

Information Technology (IT).

10. Which Indian policy introduced globalization?

New Economic Policy of 1991.

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Causes of Globalization

11. What is the main driving force of globalization?

Liberalization of trade.

12. How has transportation influenced globalization?

By reducing costs and time.

13. How has the internet helped globalization?

By facilitating global communication and trade.

14. Which economic reform promoted globalization in India?

LPG reforms (Liberalization, Privatization, Globalization).

15. What role do MNCs play in globalization?

They promote trade and investment across countries.

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Features of Globalization

16. Name one social impact of globalization.

Cultural exchange.

17. What is cultural globalization?

Sharing of ideas, values, and traditions globally.

18. What is political globalization?

Integration of political systems and policies.

19. Which process is associated with homogenization of culture?

Cultural globalization.

20. Give one example of cultural globalization.

Popularity of Hollywood movies worldwide.

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Pros of Globalization

21. Name one economic benefit of globalization.

Job creation.

22. How has globalization helped consumers?

More choices and better prices.

23. How does globalization benefit developing countries?

Access to foreign investment and technology.

24. Which sector in India benefitted most post-globalization?

Service sector.

25. How does globalization promote innovation?

Through global competition and collaboration.

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Cons of Globalization

26. Name one negative impact of globalization.

Job loss in traditional industries.

27. How does globalization increase inequality?

Rich benefit more than the poor.

28. Which cultural concern arises due to globalization?

Loss of local identity.

29. How does globalization harm small producers?

They can't compete with MNCs.

30. What is economic imperialism in globalization?

Dominance of powerful economies over weaker ones.

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Global Institutions & Globalization

31. Full form of WTO?

World Trade Organization.

32. When was WTO established?

1995. 

33. What does the IMF do?

Provides financial support to member countries.

34. What is the World Bank’s role in globalization?

Funding infrastructure in developing nations.

35. What is the UN’s role in globalization?

Promoting peace and cooperation globally.

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India and Globalization

36. Who was the Finance Minister in 1991 during reforms?

Dr. Manmohan Singh.

37. What is FDI?

Foreign Direct Investment.

38. How has FDI helped India?

Boosted infrastructure and jobs.

39. Which Indian city is a hub of globalization?

Bengaluru.

40. Which Indian industry is highly globalized?

IT and BPO sector.

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Multinational Corporations (MNCs)

41. What is an MNC?

A company operating in multiple countries.

42. Name one famous MNC.

Microsoft.

43. How do MNCs affect local industries?

Increase competition.

44. What is outsourcing?

Hiring external firms to handle services or production.

45. Example of outsourcing in India?

Call centers.

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Resistance to Globalization

46. Why do farmers protest globalization?

Threat from cheap foreign imports.

47. What is anti-globalization?

Opposition to negative impacts of globalization.

48. Name a famous anti-globalization protest.

Seattle WTO protests, 1999.

49. Which Indian movement opposed globalization?

Narmada Bachao Andolan (partly).

50. What does ‘Think global, act local’ mean?

Use global ideas but suit local needs.

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Environmental Impact

51. How does globalization affect the environment?

Increases pollution and exploitation.

52. What is ecological footprint?

Environmental impact of a person or nation.

53. Which protocol addresses climate issues globally?

Kyoto Protocol.

54. How can globalization be sustainable?

By using green technology and fair trade.

55. What is ‘green globalization’?

Environmentally responsible globalization.

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Globalization and Culture

56. What is cultural homogenization?

Making cultures more similar globally.

57. What is hybrid culture?

Mix of global and local cultural traits.

58. Example of hybrid culture?

McAloo Tikki at McDonald's India.

59. How does globalization impact languages?

Promotes global languages like English.

60. What is glocalization?

Global product adapted to local taste.

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Trade and Economy

61. What is liberalization?

Reduction of government control over economy.

62. What is privatization?

Transfer of ownership from public to private.

63. What is globalization in trade?

Open international markets.

64. What are tariffs?

Taxes on imports.

65. How does globalization affect trade barriers?

Reduces them.

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Globalization in Everyday Life

66. Name one global brand in your home.

Coca-Cola.

67. Which mode of entertainment spread via globalization?

Netflix.

68. What is the global village?

World as a single community.

69. How does social media aid globalization?

Spreads ideas instantly worldwide.

70. Which currency is mostly used in global trade?

US Dollar.

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Impact on Employment

71. What is brain drain?

Migration of skilled workers.

72. How has globalization affected employment in India?

Created jobs in services, reduced in manufacturing.

73. What is gig economy?

Short-term freelance jobs via digital platforms.

74. Name one gig platform.

Uber.

75. Which jobs declined due to globalization?

Low-skill manufacturing jobs.

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Technology and Globalization

76. What is e-commerce?

Buying and selling via internet.

77. Which company is a symbol of tech globalization?

Amazon.

78. What is digital divide?

Gap between tech users and non-users.

79. Which technology connects global markets?

Internet.

80. How does AI affect globalization?

Enhances automation and global services.

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Future of Globalization

81. What is deglobalization?

Reducing global interdependence.

82. Which event questioned globalization recently?

COVID-19 pandemic.

83. How did COVID-19 impact globalization?

Disrupted supply chains.

84. Will globalization continue in the future?

Yes, but possibly with more local focus.

85. Name one future challenge of globalization.

Climate change.

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Important Terms

86. What is protectionism?

Policy to protect local industries from foreign competition.

87. What is fair trade?

Trade with ethical and equitable practices.

88. What is a trade bloc?

Group of countries promoting free trade among them.

89. Name a trade bloc.

European Union (EU).

90. What is balance of payments?

Record of all economic transactions with the world.

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Miscellaneous

91. Which country exports most software?

India.

92. What is offshoring?

Moving business processes abroad.

93. How does tourism relate to globalization?

Facilitates cultural and economic exchange.

94. What is global governance?

Collective management of global issues.

95. What is localization?

Adapting global products to local markets.

96. What is capital mobility?

Free movement of investments across borders.

97. Which two countries dominate global economy?

USA and China.

98. What is inequality in globalization?

Unequal benefits to nations and people.

99. What does WTO aim to do?

Promote free and fair global trade.

100. Is globalization reversible?

It can slow or change, but full reversal is unlikely.