Globalisation and the Economy Class 10 Notes PDF Summary
Greetings to all, Today we are going to Upload the Globalisation and the Economy Class 10 Notes PDF to assist students as well as tutors. This chapter deals with globalization. Here you will get to know the integration between countries through foreign trade and foreign investments by multinational corporations (MNCs). You will further get to know the role that MNCs play in the globalization process. The final section of the chapter covers the impact of globalization and the extent to which globalization contributed to the development process.
CBSE Notes Class 10 Economics Chapter 4 – Globalisation and the Indian Economy, we have especially dealt with the Integration of production and integration of markets. This will help you to understand the process of globalization and its impact in a better way. You can download these CBSE Class 10 Social Science Notes in pdf.
Detailed Table of the Chapter 4 Notes – Globalisation and the Economy Class 10 Notes PDF
| 1. | Board | CBSE |
| 2. | Textbook | NCERT |
| 3. | Class | Class 10 |
| 4. | Subject | Social Science Notes |
| 5. | Chapter | chapter 4 |
| 6. | Chapter Name | Globalisation and the Economy |
| 7. | Category | CBSE Revision Notes |
Globalization and the Economy Class 10 Notes PDF
The main mode of communication between distant countries was traded. Large corporations, now known as Multinational Corporations (MNCs), play a significant role in trade.
- A multinational corporation (MNC) is one that owns or controls production in more than one country.
- MNCs locate production headquarters and factories in areas where labor and other resources are cheap. This is done to keep production costs down and allow MNCs to make more money.
- Furthermore, MNCs may seek government measures that protect their interests.
Interlinking Production Across Countries
- Investment refers to money spent on assets such as land, buildings, machineries, and other equipment.
- MNC investment is referred to as a foreign investment. Any investment is made in the hopes of profiting from the assets.
MNCs are spreading their production and interacting with local producers in numerous nations throughout the world in a variety of methods, as listed below:
- Joint Production: MNCs partner with an existing local company in joint production or partnership. The investment enables local producers to obtain new and improved assets as well as cutting-edge technologies.
- Acquisition of Local Companies: MNCs purchase large established local enterprises with vast networks in order to grow their production.
- Controlled Production: MNCs source materials and make orders with local companies who create goods, resulting in controlled production. The MNC’s brand name is used to market the products.
MNCs collaborate with local businesses to set up production, which benefits local businesses in the following ways:
- MNCs can give funds for extra investments, such as the purchase of new machines to increase production speed.
- Multinational corporations may bring cutting-edge manufacturing technology with them.
Foreign Trade and Integration of Markets
- Foreign trade allows producers to expand their reach beyond their home markets, i.e. markets within their own countries.
- Producers have the option of selling their products not only in domestic markets, but also in marketplaces around the world.
Thus, foreign trade leads to the connection or integration of markets in other countries.
Globalization
The term “globalization” refers to the process of integrating a country’s economy with the global economy. It’s a multifaceted problem. It is the culmination of a number of initiatives aimed at converting the world into one of greater interconnectedness and integration.
It entails the establishment of networks and endeavors aimed at breaking down social, economic, and geographic barriers. Globalization aims to create connections such that events in India can be influenced by events taking place thousands of miles away.
Globalization has Been Enabled by the Following Factors:
- Technology
- Information is now readily accessible because of advancements in information and communication technologies.
- Automation and precise control of production, as well as homogeneity, have been made possible thanks to advanced computing facilities.
- Trade Liberalisation:
- Government-imposed trade restrictions are known as trade barriers. The government can employ trade barriers to control or enhance international trade, as well as decide what sorts of goods and how much of each should be imported. Import taxes are an example of a trade barrier.
- India liberalized its trade in 1991, allowing companies to freely import and export materials and goods. This was backed up by organizations like the World Bank.
- Foreign Investment Policy:
- A company’s considerable investments in a foreign enterprise are known as foreign direct investments (FDI).
- The investment could be used to acquire a material source, expand a company’s territory, or establish an international presence.
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