Unit 4 Ch 4 : Globalization and the Indian Economy — Social Studies STD 10 — Question

Explain the various ways by which the consumers are exploited by the producers or wholesalers?

Throw light on the various sectors of the economy.

What is GDP of a country? Who has undertaken this task of measuring GDP in India?

Read the passage on the left and answer the 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 Rs. 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 wants to develop Ford India as a component supplying base for its other plants across the globe.
By setting up their production plants in India, MNCs such as Ford Motors tap the advantage not only of the large markets that countries such as India provide, but also the lower costs of production. Explain the statement.

In Tamil Nadu, 75 percent of the people living in rural areas use a ration shop, whereas in Jharkhand only 8 percent of rural people do so. Where would people be better off and why?

Which factors have stimulated the globalisation process?

What is required to maintain safety and quality of products and services?

In what ways does the Reserve Bank of India supervise the functioning of banks? Why is this necessary?

How do banks play an important role in the economy of India? Explain.

COPRA has enabled the consumers to have the right to represent in the consumer courts. Explain how it benefits the consumers.