11 Most VSAQ’s of Globalisation Chapter in Class 10th Social (TS/AP)
2 Marks
VSAQ-1 : What is Globalisation.
Globalization refers to increased interconnectedness among countries, involving exchange of goods, services, ideas, and cultures globally.
VSAQ-2 : What is Privatization?
Privatization is the transfer of ownership and control of government-owned assets or services to the private sector. It involves reducing government involvement in economic activities and allowing private individuals or corporations to take over the ownership and management of enterprises or services.
VSAQ-3 : What is Liberalisation?
Liberalization refers to the relaxation or removal of government regulations, controls, and restrictions in various sectors of the economy. It aims to promote economic growth, competition, and efficiency by allowing more market-driven approaches and reducing state intervention.
VSAQ-4 : What is Foreign trade?
Foreign trade, also known as international trade, refers to the exchange of goods, services, and capital between countries. It involves the buying and selling of products and services across international borders, facilitating economic interactions and promoting global integration.
VSAQ-5 : Define foreign investment?
Foreign investment refers to investments made by individuals, companies, or organizations from one country in assets or projects located in another country. It involves allocating capital, resources, or funds to activities like business expansion, infrastructure development, or financial instruments in foreign nations.
VSAQ-6 : What is Arab spring.
The “Arab Spring” refers to a series of pro-democracy protests, uprisings, and demonstrations that swept through several countries in the Middle East and North Africa (MENA) region starting in late 2010. The term is used to describe the wave of social and political movements that aimed to bring about political reform, social justice, and greater freedoms in these countries. It led to significant changes in leadership and governance in some nations, but the outcomes varied across different countries involved.
VSAQ-7 : What is Outsourcing?
Outsourcing is the practice of hiring external individuals or companies to perform specific tasks, functions, or services that were traditionally done in-house within a company. It’s a way for organizations to access specialized skills, reduce costs, and focus on their core competencies while delegating non-core tasks to external experts.
VSAQ-8 : What is Tariff?
A tariff is a tax imposed on goods that are imported into a country. It is a form of trade barrier that governments use to generate revenue and protect domestic industries by making imported goods more expensive compared to domestically produced goods.
VSAQ-9 : What is Brain drain?
Brain drain refers to the emigration or migration of highly skilled and educated individuals from one country to another in search of better opportunities, higher salaries, improved living conditions, or greater professional advancement. This movement can result in a loss of valuable human resources for the country of origin.
VSAQ-10 : Define Economic reforms of NEP 1991.
The Economic Reforms of 1991, often referred to as the New Economic Policy (NEP) of 1991, were a set of comprehensive policy changes introduced by the Government of India in July 1991. These reforms aimed to liberalize and open up the Indian economy, moving away from the previous system of heavy government control and regulation.
VSAQ-11 : What is foreign investment? How much did Ford Motors invest in India?
Foreign investment refers to the investment made by multinational corporations (MNCs) or individuals from one country in assets such as land, buildings, machinery, and equipment in another country.