Globalization & Sustainable Development

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Questions and Answers

Why did India undertake liberalization?

To overcome the crisis of the economy and to attain high rates of growth

To overcome the financial crisis and to increase the global economic competitiveness (correct)

To overcome the financial crisis and to have access to the resources to finance its growth

To invest in other countries and to attain high rates of growth

Where was the first meeting of the 'World Social Forum' held in the year 2001 AD?

India

None of these

Brazil (correct)

China

Which of these ideologies is based on the globalisation?

Liberalism (correct)

All-encompassing

Anarchism

Socialism

Where was the meeting of the 'World Social Forum' held in the year 2004 AD?

Mumbai Signup and view all the answers

The new liberal globalization was initiated by which organization?

World Trade organization Signup and view all the answers

When did India adopt a new economic policy?

1991 Signup and view all the answers

What is the nature of the Indian economy?

Mixed economy Signup and view all the answers

What is the concept of globalization?

The concept of globalization encompasses the integration of economies, cultures, societies, and technologies across the world. It creates interdependencies and exchange of goods, services, ideas, and knowledge. Signup and view all the answers

What are the processes involved in economic globalization?

Economic globalization involves the integration of national economies into a global market through trade, investment, and financial flows. This process creates interconnectedness and interdependence among countries, leading to increased competition and potential for economic growth. Signup and view all the answers

Explain the concept of “liberalization”.

Liberalization implies easing restrictions on economic activities and promoting free trade. It involves reducing government intervention, deregulation, and opening up markets to competition from both domestic and foreign businesses. Signup and view all the answers

What are the main features of Globalization?

The main features of globalization include: economic integration, cultural exchange, technological advancements, increased mobility of people and capital, interconnectedness, and growing interdependence among countries. Signup and view all the answers

What are the main characteristics of the globalization process?

The globalization process is characterized by increased interconnectedness and interdependence of nations, leading to greater economic integration, cultural exchange, technological advancements, and greater mobility of people, goods, and capital. Signup and view all the answers

Study Notes

Globalization

Globalization is a complex process involving political, economic, and cultural factors.
It has various motivations including higher economic growth and attracting foreign investment.
Globalization's effects vary, with some individuals benefiting and others facing disadvantages.

The World Social Forum's first meeting was held in 2001.
The location of the meeting was in Brazil.

Globalization Theory

Globalization is based on the theory of liberalism.
This theory emphasizes freedom and individual rights.

Sustainable Development

Sustainable development prioritizes the needs of present generations without compromising the ability of future generations to meet their own needs.

Economic Liberalization

Economic liberalization aims to grant private sectors greater autonomy in industrial operations.
Liberalization involves reducing government regulations and restrictions on private activity.

Indian Economic Policies

India adopted economic liberalization policies in the 1990s.
The changes introduced were aimed to stimulate the economy through various policies.

Key Characteristics of Globalization

Freely traded goods and services, capital, and labor.
Free flow of information and investment.
Increased international trade and exchange of ideas.
Growing interdependency among nations.

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Description

This quiz covers key concepts of globalization, including its political, economic, and cultural dimensions. It also examines the impact of economic liberalization and the principles of sustainable development. Test your understanding of these important topics that shape our world today.