3 Marks Each

Question 13 Marks

Explain the concept of globalization.

Answer

Globalization is the process of connecting one country economy with the world economy. As the result of which flow of goods, services, technology and labour is easily available in the world. Following improvements have taken place due to globalization:
Obstacles of trade between two nations have been removed.
Such a condition has been created so that capital exchange can easily take place between two nations.
Obstacles in the way of exchange of technology have been removed.
Free exchange of labour may be there among different nations of the world. Mixed-effects of globalization have been there on Indian economy.

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Question 23 Marks

Explain the strategy of Sustainable Development.

Answer

Sustainable development means meeting the needs of present generation without compromising with the ability of future generations to meet their own needs.

Following strategy should be adapted for sustainable development:
Non-renewable resources like coal, mineral oil and minerals should be used judiciously.
Renewable resources like water, forest, farms should be used in such a way that their quality is maintained.
Industries should be located close to their source of raw material and market to save transportation cost.
Eco-friendly technology should be used for transport vehicles and in industries.
The alternative uses of multipurpose resources should be explored.
For E.g. River water should be used for irrigation, transport, domestic use.
Natural resources should not be polluted for e.g. Control should be laid on unplanned disposal of industrial waste, poisonous chemicals and increasing slums.
Stress should be laid on use of non-conventional energy resources such as solar and wind energy.

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Question 33 Marks

Which steps have been taken to conserve the environment$?$

Answer

In order to ensure environment protection an 'Earth Conference' was organised in $1972$ at Stockholm in Sweden.

Thereafter from time to time conventions and camps have been organised for protection of the environment at the global level and steps have been taken for environment protection.
India is also involved in these global efforts.
The Government is also making different efforts at the national level like:

$1.$ Information about pollution levels in different cities should be given.
$2.$ Central and state pollution control boards have been established.
$3.$ 5 June is celebrated as 'Environment day'.
$4.$ The government passed the 'Air Pollution Control Act' in $1981.$
$5.$ International agreements have been signed for halting the depletion of the ozone layer, disposal of nuclear waste and maintenance of bio-diversity.

Thus, conservation of environment is everyone's responsibility.
If we do not control pollution, life on the earth will be doomed soon.

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Question 43 Marks

Mention the benifits and limitations of privatization.

Answer

Advantages of privatization:
Privatisation led to an increase in the number of production units in the industrial sector. It resulted in increase in production in capital intensive and consumer industries. Privatization of public sector units led to efficient and fullest utilization of producing capacity of these units.
Disadvantages of privatization:
Concentration of economic power led to increase in the evil of monopoly. It adversely affected the development of cottage industries. Privatization has led to inflation.

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Question 53 Marks

What is the meaning of Liberalization? Mention its benefits$?$

Answer

The government introduced a New Economic Policy in $1991$ and under its Liberalization feature the government gradually reduced the restrictions and controls imposed on the private sector and encouraged economic development.

The industries which required government permission were restricted to $18.$
All other industries except railways, atomic energy and defence were opened for private sector.
Compulsory registration for industries was cancelled.
Non-polluting industries didn't have to take government permission for setting up their units.

Benefits of Liberalization:

The private sector got an opportunity to develop so production increased.
There was increase in global trade.
There was an increase in foreign exchange reserve.
Internal infrastructural facilities increased.

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Question 63 Marks

Write about the objectives and functions of the World Trade Organisation $(WTO)$.###Write the goals of World-Trade Organization.

Answer

World Trade Organisation was established on $1$January, $1995$ by the member Nations of United Nations.

Its headquarters is located in Geneva in Switzerland.
Their objectives are as follows:

Objectives:

To remove obstacles influencing global trading.
To remove protection policy given to industries of country for foreign trade.
To co-ordinate with global trade policy and economic policy.
To solve the trade related disputes arising in the world.

Functions:

To set up a required structure for implementation of agreement related to multinational trade and agreement related to it.
World trade organization plays a vital role for debate and negotiations for multinational trade.
WTO encourages unbiased international trade.
Different nations follow their own national policy.
It observes them and suggests required improvements.

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Question 73 Marks

exercise$[1-(1)]$

Answer

Earth conference was organized for the first time at Stockholm in Sweden in $1972$ to discuss measures to protect the environment at the global level. Thereafter, many such conferences and conventions have taken place to discuss the environment-related issues. India has actively participated in these global events and adopted the resolutions passed for the protection of the environment.
Following are the steps taken in India for the protection of environment:
Information of the pollution level in the major cities is collected and published. National and State Pollution Control Boards have been set up. $5th$ June is celebrated as the Environment Day. Air Pollution Control Act was enacted in $1981.$ International agreements have been signed about deteriorating level of ozone, disposal of nuclear waste and maintenance of biodiversity. Steps have been taken to create awareness regarding the protection of environment in the country.

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Question 83 Marks

State the effects of Globalization on Indian economy.

Answer

Effects of Globalization on Indian economy: It has been more than one and a half decade since the implementation of Globalization policy in $1991.$ The following are its effects:
• Advantages:
$>$ A high raise in exports, a high raise in growth- rate.
$4$ A high raise in Foreign Direct Investment $(FDI)$ etc.
$>$ Thus, there is an increase in the rate of economic development leading to an increase in income and high standard of living.
• Disadvantages:
$>$ A high raise in imports.
$>$ Raise in foreign debts.
$>$ Raise in poverty and a raise în inequality.

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Question 93 Marks

State the advantages of Privatization.

Answer

Definition:
Privatization means the process in which ownership and management of industrial units, under state control is handed over or transferred to the private sector is called Privatization.
Advantages of Privatization:
$>$ There is increase in number of production units in industrial sector.
$>$ Production has been increased in capital intensive and consumable commodities due to privatization.
$>$Working capacity of public sector has improved due to privatization of public sector enterprise.
Disadvantages of Privatization:
$>$Economic power has centralized as a result of privatization. Because of which evil of monopoly has increased.
$>$ Cottage industries have not developed properly due to privatization. Only large industries have been benefitted.
$>$ Prices have not remained under control due to privatization this has led to problem of price rise.

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Question 103 Marks

State advantages and disadvantages of Liberalization.

Answer

In $1991,$ India accepted the policy of Liberailization for economic improvement. Its effects on Indian economy are as follows:
• Advantages:-
$>$ Due to economic Globalization, there is a rise in industrial production.
$>$ Exchange reserve quota,
$>$ Rise in exports
$>$ Decrease in inflation,
$>$ Increase in capability to face competition at international level.
• Disadvantages :-
$>$ Industrial development, due to globalization has been at the cost of agricultural growth.
$>$ Government debt has increased.
$>$ Income-inequality has widened.

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Question 113 Marks

State Advantages of Globalization.

Answer

Effects of Globalization on Indian economy: It has been more than one and a half decade since the implementation of Globalization policy in $1991.$ The following are its effects:
• Advantages:
$>$ A high raise in exports, a high raise in growth- rate.
$>$A high raise in Foreign Direct Investment $(FDI)$ etc.
$>$Thus, there is an increase in the rate of economic development leading to an increase in income and high standard of living.

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Question 123 Marks

Write about World Trade Organisation $(WTO).$

Answer

$>$ World Trade Organisation was established on $1st$ January, $1995$ by the member Nations of United Nations.
$>$ Its headquarter is located in Geneva in Switzerland.
• Objectives:
$>$ To remove obstacles influencing global trading.
$>$ To remove protection policy given to industries of country for foreign trade.
$>$To co-ordinate with global trade policy and economic policy.
$>$ To solve the trade related disputed arising in the world.
• Functions:
$>$ To set up a required structure for implementation of agreement related to multinational trade and agreement related to it.
$>$ World trade organization plays a vital role for debate and negotiations for multinational trade.
$>$ WTO encourages unbiased international trade.
$>$ Different Nations follow their own national policy. It observes them and suggests required improvements.

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Question 133 Marks

Explain the benefits and disadvantages of Globalization?

Answer

Globalization is the process of connecting one country's economy with the world economy.

Advantages:

Foreign Direct Investment (FDI) is encouraged.
Goods not produced in a country are made available.
Developing countries have been able to withstand international competition.

Disadvantages:

Problems of poverty and unemployment have not been solved.
Exports of developing countries have not increased as required.
Large scale industries have benefited and not the small scale one.

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Question 143 Marks

What is meant by Privatization? What are is advantages and disadvantages?

Answer

Privatization means transfer of ownership and management of industrial units, under state control to the private sector.

Advantages

Production in industrial sector increased.
Production in capital intensive and consumable commodities increased.
Working capacity of public sector improved due to ownership of private sector.

Disadvantages:

Economic power centralized leading to monopoly.
Only large industries benefitted and not cottage industries.
Price rise as they couldn't be controlled.

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Social Science 3 Marks Each

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