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The past two decades of globalisation has seen rapid movements in
- a)goods, services and people between countries.
- b)goods, services and investments between countries.
- c)goods, investments and people between countries.
- d)None of these
Correct answer is option 'B'. Can you explain this answer?
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The past two decades of globalisation has seen rapid movements ina)goo...
The past two decades of globalisation has seen rapid movements in goods, services and investments between countries.
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The past two decades of globalisation has seen rapid movements ina)goo...
The Concept of Globalisation
Globalisation refers to the interconnectedness of economies, societies, and cultures across the globe. Over the past two decades, this phenomenon has transformed how countries interact and engage with one another.
Key Components of Globalisation
- Goods: The trade of physical products has expanded significantly. Countries are able to import and export a wide variety of goods, benefiting from specialization and comparative advantage.
- Services: The rise of technology has facilitated the global trade of services, such as IT, finance, and education. This allows companies to operate on a global scale, tapping into international markets.
- Investments: Foreign Direct Investment (FDI) has surged, with businesses investing in operations overseas. This fosters economic growth and creates jobs in host countries, while also allowing investors to diversify their portfolios.
Why Option B is Correct
The correct answer is option 'B' because it encapsulates the broader and more impactful elements of globalisation:
- Goods, Services, and Investments: These three components are crucial for understanding the economic interactions between nations. While the movement of people is important, it is not as central to the economic narrative of globalisation as the flow of goods, services, and investments.
- Economic Growth: The combination of these elements contributes significantly to global economic growth, improving standards of living and fostering innovation.
In summary, option 'B' accurately reflects the comprehensive nature of globalisation, highlighting its critical aspects that drive economic relationships between countries.
Globalisation refers to the interconnectedness of economies, societies, and cultures across the globe. Over the past two decades, this phenomenon has transformed how countries interact and engage with one another.
Key Components of Globalisation
- Goods: The trade of physical products has expanded significantly. Countries are able to import and export a wide variety of goods, benefiting from specialization and comparative advantage.
- Services: The rise of technology has facilitated the global trade of services, such as IT, finance, and education. This allows companies to operate on a global scale, tapping into international markets.
- Investments: Foreign Direct Investment (FDI) has surged, with businesses investing in operations overseas. This fosters economic growth and creates jobs in host countries, while also allowing investors to diversify their portfolios.
Why Option B is Correct
The correct answer is option 'B' because it encapsulates the broader and more impactful elements of globalisation:
- Goods, Services, and Investments: These three components are crucial for understanding the economic interactions between nations. While the movement of people is important, it is not as central to the economic narrative of globalisation as the flow of goods, services, and investments.
- Economic Growth: The combination of these elements contributes significantly to global economic growth, improving standards of living and fostering innovation.
In summary, option 'B' accurately reflects the comprehensive nature of globalisation, highlighting its critical aspects that drive economic relationships between countries.
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The past two decades of globalisation has seen rapid movements ina)goods, services and people between countries.b)goods, services and investments between countries.c)goods, investments and people between countries.d)None of theseCorrect answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about The past two decades of globalisation has seen rapid movements ina)goods, services and people between countries.b)goods, services and investments between countries.c)goods, investments and people between countries.d)None of theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The past two decades of globalisation has seen rapid movements ina)goods, services and people between countries.b)goods, services and investments between countries.c)goods, investments and people between countries.d)None of theseCorrect answer is option 'B'. Can you explain this answer?.
The past two decades of globalisation has seen rapid movements ina)goods, services and people between countries.b)goods, services and investments between countries.c)goods, investments and people between countries.d)None of theseCorrect answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about The past two decades of globalisation has seen rapid movements ina)goods, services and people between countries.b)goods, services and investments between countries.c)goods, investments and people between countries.d)None of theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The past two decades of globalisation has seen rapid movements ina)goods, services and people between countries.b)goods, services and investments between countries.c)goods, investments and people between countries.d)None of theseCorrect answer is option 'B'. Can you explain this answer?.
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