CBSE Class 10 Social Science Globalisation and Indian Economy Important Questions Set C

Short Answer Type Questions

Question. What is a MNC ?
Answer: An MNC is a company that owns or controls production in more than one nation. MNCs set up their offices and factories for production in regions where they can get cheap labour and other resources. This is done so that the cost of production becomes low and the MNCs can earn greater profits.

Question. What are the characteristics of a MNC ?
Answer: Following are the characteristics of a MNC :
(i) A MNC may have research and development facility in one country.
(ii) It may have production facility in another country.
(iii) It may source raw materials from other countries.
(iv) It then sells products all over the world.

Question. How do local producers get benefitted from MNCs ?
Answer: Many of the times, MNCs set up production facility in any country jointly with some of the local companies of that country. The benefit to the local company of such joint production is two-fold. First, MNCs can provide money for additional investments, like buying new machines for faster production. Second, MNCs might bring with them the latest technology for production etc.

Question. How are multinational corporations (MNCs) controlling and spreading their productions across the world ? Explain. OR Explain by giving examples that MNCs are spreading their production in different ways.
Answer: The most common strategy of a Multinational Corporation is to first buy a local company and then expand production. Depending on the product MNCs adopt another strategies also. In labour intensive products like garments the MNCs are setting up partnerships with local companies. MNCs are using the local companies for supply of raw material or accessories. MNCs are closely competing with the local companies. MNCs are taking over local companies with immense money power. Thus, MNCs are exerting a strong influence on production at distant locations.

Question. What kind of opportunity is created by foreign trade for producers ?
Answer: Foreign trade creates an opportunity for the producers to reach beyond the domestic markets, i.e., markets of their own countries. Producers can sell their produce not only in markets located within the country but can also compete in markets located in other countries of the world.

Question. What kind of opportunity is created by foreign trade for consumers ?
Answer: Foreign trade creates an opportunity for the buyers to import goods produced in another country. This is one of the ways to expand the choice of goods and services for the consumers which goes beyond what is domestically available.

Question. Rapid improvement in technology has been a major factor that has stimulated the globalisation process. Explain.
Answer: Rapid improvement in technology has been one of the major factors that has stimulated the globalisation process. For instance, in the past seven decades, we have seen several improvements in transportation and communication technology. The rapid improvement in the transportation facilities has led to much faster delivery of goods across long distances at lower costs. Even more remarkable developments have taken place in communication technology. Communication facilities (telegraph, telephone including mobile phones, fax) have changed the pace of information sharing. Now it is very easy to access information, send and receive information etc. Now, the information even to the remote areas can also be shared. It has also changed the way of doing business. Production technologies have also become such that they have not remained confined to only few specific territories. This has led to the expansion of MNCs.

Question. Why is a trade-barrier called a barrier ? What does it do ?
Answer: It is called a barrier because some restriction on the trade has been set up. Governments can use trade barriers to increase or decrease (regulate) foreign trade and to decide what kinds of goods and in what quantities should come into the country.

Question. Whatwasthereasonsforputtingbarrierstoforeigntrade and foreign investment by the Indian government ? Why did it wish to remove these barriers ?
Answer: At the time of independence, India received her industrial structure in very shattered and backward form. So in order to give it an environment for growth, the Indian government put barriers to foreign trade and foreign investment to protect the producers within the country from foreign competition. Industries were just coming up in the 1950s and 1960s, and competition from imports at that stage would not have allowed these industries to grow up. But around 1991, the Indian government had realised that in order to improve the functioning of the Indian economy, the time had come for Indian producers to compete with producers around the globe. It felt that competition would improve the performance of producers within the country since they would have to improve their quality.

Question. ‘Barriers on foreign trade and foreign investment were removed to a large extent in India since 1991.’ Justify the statement. OR Why did the Government of India remove trade barriers ? Explain the reasons.
Answer: (i) Due to this, imports and exports could easily flow between different countries.
(ii) It allowed the local producers to compete with products at global level, so that they could improve the quality of their product.
(iii) Global MNCs could setup their production units , they brought latest technology of production into the country.

Question. Assess any three advantages of globalisation.
Answer: (i) It has allowed the producers to reach beyond their domestic market. They can sell their services and goods in the markets of other countries besides their own country.
(ii) It has increased the choice of products for the consumers especially the well-off section of the society.
(iii) It has improved the quality of product due to increased competition. Also the price of similar goods tend to equalise in different markets.

Question. Do the rules of WTO give fair treatment to all the countries ?
Answer: No, though WTO is supposed to facilitate free trade for all, in practice, it is seen that the developed countries have retained or developed unfair trade barriers against developing countries. An example of this is the current debate on trade in agricultural products and establishing labour standards. On the other hand, WTO rules have forced the developing countries to remove trade barriers.

Question. What is WTO ? Why it has been formed ?
Answer: World Trade Organisation (WTO) is the only International Organisation that deals with the global rules of trade between nations. Its main role is to help producers of goods and services, exporters and importers protect and manage their businesses better. It was established in 1995 and its headquarters is in Geneva, Switzerland. At its heart are the WTO agreements, negotiated and signed by the bulk of the World’s trading nations and ratified in their parliaments. Its purpose is to monitor WTO trade agreements, facilitate trade negotiations, mediate trade disputes, monitor international trade policies and provide assistance to developing economies.

Question. How would flexibility in labour laws help companies ?
Answer: Companies now a days are facing intense competition. This competition is compelling them to provide the consumers more value for their money. This may happen when they reduce their cost. Salary and wages are the significant part of their cost. Hiring people for flexible time durations will help the companies to manage their hiring costs because in the busy period they may hire more labour while in lean period they may reduce manpower, thus reducing their operational costs. Without flexibility in labour laws, companies will not be able to hire and remove people easily which may hamper their production.

Question. How have ‘local companies’ benefited by collaborating with ‘multinational companies’ ? Evaluate any three benefits.
Answer: The local companies has been benefited by collaborating with ‘‘Multinational Companies’’ in the following ways :
(i) MNCs provide money for additional investments like buying new machines for faster production.
(ii) MNCs bring with them the latest technology for production.
(iii) The collaboration with MNCs also bring new market for the finished goods/product.
(iv) With the increase in production, Indian companies made good earnings.
(v) Most of the Indian companies have gained from successful collaboration with foreign companies.

Source A – Chinese toys in India
Chinese manufactures learn of an opportunity to export toys to India where toys are sold at a high price. Chinese toys become more popular in the Indian markets because of the cheaper prices and new toy shops have replaced Indian toys with Chinese toys.
Source B – Using IT in globalisation
A news magazine published for London readers is to be designed and printed in Delhi. The text of the magazine is sent through Internet to the Delhi office. The designers in the Delhi office get orders on how to design the magazine from the office in London using telecommunication facilities. The designing in done on computer. After printing, the Magazines are sent by air to London to a bank in Delhi instantly through e-banking.
Source C – Route for MNC investment
According to sources, The most common is to buy up local companies and then to expand production. MNCs with huge wealth can quite easily do so.

Question. Source A – Why Chinese toys are becoming more popular in Indian markets ?
Answer: Chinese toys are becoming more popular in Indian markets because of the cheaper prices and new designs.

Question. Source B – How is information technology connected with globalisation ?
Answer: Information technology is connected with globalisation with the help of e-banking, telecommunications, internet, computer etc.

Question. Source C – Give example for the mentioned sources.
Answer: Cargill foods an American MNC has bought over smaller Indian companies such as Parakh foods which had built a large marketing network in various parts of India.

Long Answer Type Questions

Question. In recent years, how our markets have been transformed ? Explain with examples.
Answer: Transformation of markets in recent years :
(i) The advent of globalisation and the policy of liberalisation has opened the market to the world players. The economy of our country has rapidly grown with the onset of LPG i.e., Liberalisation, Privatisation and Globalisation reforms in 1991.
(ii) MNCs play a vital role in the world market and as a result foreign trade and investment in the country has increased. MNCs are playing a major role in the market by introducing exchange of technology between countries.
(iii) Foreign trade affects the integration of domestic markets in different countries.
(iv) Globalisation has also created new opportunities for companies providing services, particularly those dealing in IT.
(v) Better job opportunities for people have given rise to migration.
(vi) Also globalisation has enabled some large Indian companies to emerge as multinationals themselves. Tata Motors (automobiles), Infosys (IT), Ranbaxy (medicines) are some Indian companies which are spreading their operations worldwide

Question. How do multinational Corporations (MNCs) interlink their production across countries ? Explain with examples.
Answer: Multinational Corporations (MNCs) control their production across countries in various ways :
(i) MNC is a company that owns and control production in more than one nation. MNCs set up offices and factories for production in regions where they can get cheaper labour and other resources. This is done so that the cost of production is low and the MNCs can earn greater profits.
(ii) The MNC is not only selling its finished products globally, but more important, the goods and services are produced globally.
(iii) The production process is divided into small parts and spread out across the globe. In the above example, China provides the advantage of being a cheap manufacturing location.
(iv) The most common route for MNCs investments is to buy up local companies and then to expand production. For example, Cargill Foods, a very large American MNC bought over Indian company Parekh Foods which had their large marketing network in various parts of India and also a good reputation. With this advantage, Cargill has now become the largest producer of edible oil in India.
(v) There is another way in which MNCs control production. Large MNCs in developed countries place order for production with small producers of cheaper countries. Garments, footwear, sport items come in this category and MNCs after quality check put their brand name on these items.
(vi) As a result, production in these widely dispersed locations is getting interlinked.

Question. Describe any five factors that promote the Multinational Corporations (MNCs) to setup their production units in a particular place.
Answer: Following are the various factors:
(i) MNCs establish their production facilities in such areas where they get cheap raw material.
(ii) MNCs establish their production facilities in such areas where they get cheap but quality labour.
(iii) MNCs always establish their production facility near to market which helps them to keep their transportation cost low.
(iv) MNCS establish production units in those areas where the availability of electricity is sufficient and predictable.
(v) MNCs establish the production facilities in those areas where there is rule of law and crime rate is very low.

Question. What are the impacts of foreign trade ?
Answer: Following are some of the impacts of foreign trade :
(i) Foreign trade creates an opportunity for the producers to reach beyond the domestic markets, i.e., markets of their own countries. Producers can sell their produce not only in markets located within the country but can also compete in markets located in other countries of the world.
(ii) Similarly, for the buyers, import of goods produced in another country expands their choice of goods beyond what is domestically produced. So the choice of goods in the markets rises.
(iii) When the goods travel from one market to another, prices of similar goods in the two markets tend to become equal. Foreign trade thus results in connecting the markets or integration of markets in different countries.

Question. ‘‘Globalisation and greater competition among producers has been advantageous to consumers.’’ Support the statement with examples. OR Describe any five advantages to consumers due to globalisation and greater competition among producers. OR ‘‘Globalisation and greater competition among producers has been of advantage to consumers.‘‘ Justify the statement with examples.
Answer: Globalisation and greater competition among producers both local and foreign, has been of advantage to consumers in the following ways :
(i) Companies have invested in new technology to raise their production quality to compete with the MNCs, thus, ensuring that consumers get better quality products and be satisfied.
(ii) Indian companies have collaborated with MNCs to produce more functional and advanced products, thus, benefitting the consumers.
(iii) Consumer can enjoy improved quality at lower prices for several products. This has led to higher standard of living.
(iv) There is greater choice available to the consumers in goods.
(v) The quality of goods has been improved.
(vi) Due to competition, the prices of various products has come down.

Question. How can globalisation be an integrating force ?
Answer: Globalisation is an integrating force that integrates the economies of the nations. This integration takes place through foreign trade, foreign investment and movement of people. Foreign trade creates an opportunity for the producers to reach beyond the domestic markets. The producers can sell their produce not only in markets located within the country but can also compete in markets located in other countries of the world. When the goods travel from one market to another, prices of similar goods in the two markets tend to become equal. Foreign trade thus results in connecting the markets or integration of markets in different countries. Similarly, for the buyers, import of goods produced in another country expands their choice of goods beyond what is domestically produced. So the choice of goods in the markets rises. This has also raised their standard of consumption at par with their counterparts in other countries. Foreign investments through MNCs play a major role in the integration process. More and more goods and services, investments and technology are moving between countries. This has led to the profitability of MNCs getting affected by their performance in other countries. There is one more way in which the countries are getting connected. This is through the movement of people between countries who move from one country to another in search of better income, better jobs or better education. This leads to the sharing of culture between the people.

Question. What policy decisions were taken by the Indian government in 1991 ?
Answer: Starting around 1991, the Indian government had the realisation that in order to improve the functioning of the Indian economy, the time had come for Indian producers to compete with producers around the globe. It felt that competition would improve the performance of producers within the country since they would have to improve their quality. This decision was supported by powerful international organisations like IMF and WTO. Thus, barriers on foreign trade and foreign investment were removed to a large extent. This means that goods could be imported and exported easily and also foreign companies could set up factories and offices here.

Question. What is liberalisation ? Describe any four effects of liberalisation on the Indian economy.
Answer: The Indian Government has liberalized many barriers in foreign trade and foreign investment due to following reasons :
(i) The Indian government took on the basis of perception, membership of WTO, an international organisation.
(ii) It was thought that WTO would protect India from the pressures of stronger trading partners as WTO’s rules envisage non-discrimination in the form of national treatment and most favoured nation (MFN) treatment to India’s exports in the market of other WTO members.
(iii) It was said that members would not discriminate tariff regimes among various WTO members as also would honour their respective rules, regulations and incentives etc.
(iv) However, in implementation, WTO agreements did just contrary to what was envisaged in its rules.

Question. What factors have enabled globalisation ?
Answer: Following are the various factors that have promoted globalisation :
(i) Technology : Rapid improvement in technology has been one major factor that has stimulated the globalisation process. For instance, in the past seven decades, we have seen several improvements in transportation and communication technology. This has led to much faster delivery of goods across long distances at lower costs. Similarly, communication facilities (telegraph, telephone including mobile phones, fax) have changed the pace of information sharing. It has also changed the way of doing business.
(ii) Liberalisation policies : Starting around 1991, the Indian government had the realisation that in order to improve the functioning of the Indian economy, the time had come for Indian producers to compete with producers around the globe. It felt that competition would improve the performance of producers within the country since they would have to improve their quality. Thus, barriers on foreign trade and foreign investment were removed to a large extent and foreign trade and investments were liberalised.
(iii) World Trade Organisation : The liberalisation of foreign trade and investment in India was supported by some very powerful international organisations. These organisations were of the view that all barriers to foreign trade and investment are harmful and they supported free trade. World Trade Organisation (WTO) was one such organisation which supported free trade and investment in the country.

Question. Why do you think that the Chinese toys are more popular in Indian market ? What would happen if Indian government impose heavy import duties on Chinese toys ?
Answer: Chinese toys are more popular in Indian markets because they are cheaper in comparison to Indian toys. Other reasons for Chinese toys’ popularity are their better make and design. Now almost all the toy shops are selling Chinese toys in large numbers. It seems that Chinese toys have almost replaced the Indian toys. This is a very serious situation for Indian toys manufacturers in terms of their income and employment. If the Indian government imposes heavy import duty on Chinese toys, it will increase their cost and hence the prices in the Indian market. This will decrease their demand in the market. This will lead to more demand of Indian toys and fall in the imports of Chinese toys. This will happen only when their prices become higher than the prices of Indian toys due to import duties. So if even after imposing the import duty, the Chinese products remain cheaper in comparison to Indian toys than their imports will not fall.

Question. Analyse any five positive effects of globalisation on the India economy.
Answer: The visible impacts of globalisation on the Indian economy can be described in following ways :
(i) There is a wide choice of goods and services in the markets.
(ii) The latest models of digital cameras, mobile phones, and television made by the leading manufacturers of the world are available in the markets. These products are affordable and within the reach of the people.
(iii) Several improvements in the transportation technology has made much faster the delivery of goods across long distances and that too on lower rates.
(iv) The improvement in information and telecommunication technology is even more remarkable. The invention and use of computers, internet, mobile phone, fax, etc, has made contact with each other around the world quite easy.
(v) New jobs have been created in industries where MNCs have invested such as electronics, fast foods, cell phones etc.
(vi) Some Indian companies have become multinational themselves due to globalisation, such as Tata Motors (automobiles), Ranbaxy (medicines), Infosys (computer and information technology), L & T (construction).

Question. Explain in what ways has competition affected workers, Indian exporters and foreign MNCs in the garment industry?
Answer: Competition has affected workers, Indian exporters and foreign MNCs in the garment industry in a very significant manner in the following ways:
Workers:
(i) The workers in the garment industry feel insecure as far as their jobs are concerned. Most of them work on temporary basis.
(ii) They work on very less wages without any social security.
(iii) They have to work for undue longer hours.
Indian exporters:
(i) They get orders from MNCs at lower price.
(ii) They are working as outsourcing firms.
(iii) They cannot compete with international brands on global level.
Foreign MNCs:
(i) Global brands have entered the Indian market.
(ii) They have secured a large market share from domestic producers.
(iii) They are making huge profits in Indian market.

Question. Why do developed countries want developing countries to liberalise their trade and investment ? What do you think should the developing countries demand in return ?
Answer: Developed countries want developing countries to liberalise their trade and investment policies because developed countries view developing countries as the ideal source and destination for their purpose. Developed countries want their companies to setup their production facilities in developing countries due to availability of cheap raw material and cheap labour. In the same way, as destination, developed countries want to sell their products in developing countries because in most of the developing countries, the level of income is rising. So developed countries see possibility of higher profit and demand in the developing countries. The developing countries must ask for better reach of their products to the developed countries so that the indigenous industries may also prosper. They may also ask the developed countries for investment in the development of public goods so that the productive capacity of developing countries may also increase.

Question. ‘‘The impact of globalisation has not been uniform.” Explain with examples.
Answer: The impact of globalisation has not been uniform because :
(i) Globalisation has been beneficial only for developed countries. It had a bad impact on the underdeveloped and developing countries.
(ii) Developed countries took resources from underdeveloped countries at cheap rate and exported costly finished products to underdeveloped countries.
(iii) The developed countries are rich in machinery and finance. They exploits resources of the underdeveloped countries.
(iv) Competition from companies in developed countries also cripple industries of under developed and developing countries.
(v) Small manufacturers have been hard hit due to globalisation.
(vi) Many illiterate and poor people lost their jobs due to closure of small units.

Question. How has foreign trade been integrating markets of different countries? Explain with examples.
Answer:

• (a) Producers from one country go beyond the domestic market and compete globally.
• (b) Producers from different countries come in close contact and closely competing with each other.
• (c) The prices of similar goods in different markets tend to become equal.
• (d) Manufacturing by Multinational companies operate production across various countries thus linking the consumers and producers.
• (e) The producers supplying goods, consumers and products produced in widely dispersed locations become associated through the means of foreign trade and investment by MNCs. Consumers have greater choices available.
• (f) e.g. multinational company that manufactures automobiles gets parts by China, assembles in Mexico & Eastern Europe, gets call centre facilities from India.

Conclusion: Thus, globalisation is taken place and markets getting interlinked.

Ford Motors, an American company, is one of the world’s largest automobile manufacturers with productions spread over 26 countries of the world. It came to India in 1995 and spent \( ₹ \) 1700 crore to set up a large plant near Chennai. This was done in collaboration with Mahindra and Mahindra a major Indian manufacturer of Jeeps and trucks.

Question. Would you say Ford Motors is a MNC ? why ?
Answer: Yes, it is a MNC as it is operating in more than one country.

Question. What is foreign investment ? How much did Ford Motors invest in India ?
Answer: It means the investment made by the MNCs. Ford Motors investmented \( ₹ \) 1700 crore in India.

Question. Ford Motors belongs to which country :
Answer: America.

Source/Extract Based Questions

Ford Motors, an American company, is one of the world’s largest automobile manufacturers with production spread over 26 countries of the world. Ford Motors came to India in 1995 and spent \( ₹ \) 1700 crore to set up a large plant near Chennai. This was done in collaboration with Mahindra and Mahindra, a major Indian manufacturer of jeeps and trucks. By the year 2004, Ford Motors was selling 27,000 cars in the Indian markets, while 24,000 cars were exported from India to South Africa, Mexico and Brazil. The company wanted to develop Ford India as a component supplying base for its other plants across the globe.

Question. The passage given above relates to which of the following options?
(a) Increased employment
(b) Foreign investment
(c) Foreign collaboration
(d) International competition
Answer: (b)

Question. According to the given passage, Ford Motors can be termed as a Multinational Company based on which of the following options?
(a) Production of different types of automobiles
(b) Largest automobile manufacturer in the world
(c) Because of large scale exports of cars across globe
(d) Industrial and commercial ventures across globe
Answer: (d)

Question. By setting up their production plants in India, Ford Motors wanted to—
(a) Collaborate with a leading Indian Automobile company
(b) Satisfy the demands of American, African and Indian markets
(c) Tap the benefits of low-cost production and a large market
(d) Take over small automobile manufacturing units in India
Answer: (c)

Question. ‘Ford Motors’ wish to develop Ford India as a component supplying base for its other plants across the globe is an evidence of—
(a) Promoting local industries of India
(b) Merging trade from different countries
(c) Supplying jobs to factory workers in India
(d) Interlinking of production across countries
Answer: (d)

Chinese manufacturers learn of an opportunity to export toys to India, where toys are sold at a high price. They start exporting plastic toys to India. Buyers in India now have the option of choosing between Indian and the Chinese toys. Because of the cheaper prices and new designs, Chinese toys become more popular in the Indian markets. Within a year, 70 to 80 per cent of the toy shops have replaced Indian toys with Chinese toys. Toys are now cheaper in the Indian markets than earlier.

Question. Which one of the following suits best title for the above paragraph?
(a) Ease of Global Trade
(b) People likes value for money products
(c) Effect of foreign trade
(d) Toys are hot selling products in India
Answer: (c)

Question. Which one of the following statements, proves that foreign products harm Indian manufacturings?
(a) Chinese manufacturers learn of an opportunity to export toys to India.
(b) 70 to 80 per cent of the toy shops have replaced Indian toys with Chinese toys
(c) Toys are now cheaper in the Indian markets than earlier.
(d) Buyers in India now have the option of choosing between Indian and the Chinese toys.
Answer: (b)

Question. The Chinese toys attract Indian customers, because ________ .
(a) They are cheaper and have latest design.
(b) They are more durable and environment friendly.
(c) Have high reselling price.
(d) It boosts Indian trade with China.
Answer: (a)

Question. Chinese manufacturers could easily expand their toys market in India. Chinese manufactures—
(a) Understand the demand of Indian market.
(b) Could successfully beat the Indian quality and design.
(c) Provide the toys at cheaper price.
(d) All of them
Answer: (d)

There are a variety of ways in which the MNCs are spreading their production and interacting with local producers in various countries across the globe. By setting up partnerships with local companies, by using the local companies for supplies, by closely competing with the local companies or buying them up, MNCs are exerting a strong influence on production at these distant locations. As a result, production in these widely dispersed locations is getting interlinked.

Question. Which of the following best describes an MNC?
(a) An MNC is a company that controls production of good and services in multiple nations.
(b) An MNC is a government organized body that controls the distribution of resources in a country.
(c) An MNC is an organization that ensures new technology is used by the farming sector of a country.
(d) An MNC is a conglomerate of domestic companies that control production of goods and services in the domestic region.
Answer: (a)

Question. Which of the following is an advantage of globalization to multinational companies?
(a) Multinational companies do not have to procure raw materials from other countries as globalization leads to self-sufficiency of companies.
(b) Spreading out production across international borders can help in lowering the cost of production.
(c) When multinational companies expand production across the world, they do not have to pay taxes as they help in generating employment.
(d) Multinational companies can easily put the burden of increased cost of production on global consumers and continue to earn high profits.
Answer: (b)

Question. Rajiv has a textile firm. For carrying out production, Rajiv spent money on procuring thread from traders, buying machine and equipment and built a warehouse to store the cloth produced. The expenditure incurred by Rajiv for conducting the production process is termed as …………
(a) investment
(b) profits
(c) equity
(d) interest
Answer: (a)

Question. Which of the following can be a benefit to local businesses if they conduct business with MNCs?
(a) Local businesses do not have to invest in the business as MNCs do all the investment.
(b) MNCs provide cheap labour to local businesses.
(c) MNCs can bring advanced techniques of production.
(d) Local businesses earn higher profits as their cost of production becomes nil.
Answer: (c)

Archive

• What is the meaning of 'investment'?
• "How can the Government of India play a major role to make globalization more fair? Explain with example.
• Differentiate between investment and foreign investment.
• Why had the Indian government put barriers to foreign investment after independence? Analyses the reason.
• "A wide ranging choice of goods are available in the Indian market, "Support the statement with examples in context of globalization.
• Why do multinational corporations (MNCs) set up their offices and factories in certain areas only? Explain any five reason
• Explain any five facilities available in the special economic zones developed by the Central and State government to attract foreign investment.
• How do we feel the impact of globalization on our daily life? Explain with examples.
• Describe the contribution of technology in promoting the process of globalization.