IV. Give Short Answers
• Globalization is the integration of country with the world
economy. Basically, globalization signifies a process of internationalization
the types of globalization.
• Archaic Globalization
• Proto Globalization
• Modern Globalization
short note on Multinational corporation.
• Multinational Corporation is a Corporate organization which
owns or controls production of goods or services in at least one country other
than its home country.
• It is also called Transnational Corporation or Multinational
Ex.: Bajaj, TVS, State Bank of India, Amul and Infosys
are the reforms made to adopt globalization?
• Abolition of Industrial licensing, except for a few
• Reduction in the number of industries reserved for public
• Fixation of a realistic exchange rate of rupee to exchange
exports of Indian goods.
• Foreign exchanges regulations were suitably amended.
is Fair trade ?
Fair trade is a way of doing business that ultimately aims to
keep small farmers an active part of the world market place. It aims to empower
consumers to make purchases that support their values.
any two principles of Fair Trade Practices.
• Creating opportunities for economically disadvantaged
• Transparency and accountability
• Respect for the environment.
short note on TRIPs and TRIMs.
• Intellectual Property Rights may be defined as Information
with a common Value.
• Under TRIPs Patent shall be available for any invention
whether product or process in all fields of industrial technologies.
• TRIPs agreement covers seven areas of intellectuals property
• The Uruguay Round Agreement on TRIMs refers to certain
conditions or restrictions imposed by a government in respect of foreign
investment in the country. It is to give adequate provisions for the home
industries to develop.
any two positive impact of Globalization.
• A better economy introduces rapid development of the capital
• Standard of living has increased.
• Globalization rapidly increases better trade so that more
people are employed.