Globalization & Sustainable Development

Podcast

Play an AI-generated podcast conversation about this lesson

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 (C) Signup and view all the answers

The new liberal globalization was initiated by which organization?

World Trade organization (D) Signup and view all the answers

When did India adopt a new economic policy?

1991 (C) Signup and view all the answers

What is the nature of the Indian economy?

Mixed economy (A) 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

Flashcards

Globalization

The interconnectedness of nations through economic, political, and cultural exchanges, leading to a shrinking world.

Sustainable Development

A form of development focusing on meeting current needs without compromising the ability for future generations to meet their own.

Liberalization

Reducing or eliminating government restrictions on economic activities, especially in the private sector.

Free Market Economy

An economic model where markets are largely free from government intervention, emphasizing private ownership and competition.