Globalisation and the Indian Economy Class 10 Notes Economics Chapter 4

Globalisation – Globalisation is a process of international integration arising from the interchange of world views production ideas and other states of a culture.

Multinational Corporation ( MNC ) – multinational corporation MNC is an interprise operating in several countries but managed from one country or group that derives a quarter of its revenue from operations outside of its home country is considered to be a multinational corporation.

Investment – Investment is the purchase of goods that are not consumed today but are used in the future of two create wealth.

Foreign Investment – Foreign investment easy Bane a company or individual from one nation in based in Asus or ownership states of a company based in another nation.

Domestic market – domestic market is refers to an internal market or domestic trading. It is the supply and demand of good services are securities between a single country.

Information and communication technology – information or communication technology ise and extended term for information technology itbps tress the role of unified communications and the integration of telecommunications.

Liberation – liberation refers to laws or rules being liberalised or relaxed by a government.

Foreign trade – foreign trade easy basically trade between two different countries of the world. It is also known as the international trade.

Trade barrier – they are mainly major that are taken by the government or public authorities to introduce to make imported goods or services less competitive than locally produced to good and services. Not everything that prevented or restricted can be characterized as a trade barrier.

World Trade organisation WTO – World Trade organisation WTO is the only global international organisation dealing with the rules of trade between the two Nations. At its hot are the WTO elements negotiated and signed by the bulk of the world’s studies Nations and ratified in their parliament.

Gross Domestic Product ( GDP ) – Gross Domestic Product ( GDP ) is a monetary measure of the market value of all final goods and service product in a period.

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