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ECONOMIC LIBERALIZATION AND GLOBALIZATION. — Social Science STD 10 — Question

Gujarat BoardEnglish MediumSTD 10Social ScienceECONOMIC LIBERALIZATION AND GLOBALIZATION.2 Marks
Question
What is the meaning of Globalization?
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Answer

Globalization is the process of connecting one country's economy with the world economy. It includes:
  • Removal of obstacles of trade between nations.
  • Capital can be easily exchanged between nations.
  • Exchange of technology has been made easy.
  • Free exchange of labour among different nations of the world.
  • As a result of globalisation flow of goods, services, technology and labour had become easy in the world.

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