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Read the passage given below and answer the questions that follows:
While everything may not be known about the economic facets of globalisation, this particular dimension shapes a large part of the content and direction of contemporary debates surrounding globalisation. A part of the problem has to do with defining economic globalisation itself. The mention of economic globalisation draws our attention immediately to the role of international institutions like the IMF and the WTO and the role they play in determining economic policies across the world. Yet, globalisation must not be viewed in such narrow terms. Economic globalisation involves many actors other than these international institutions. A much broader way of understanding of economic globalisation requires us to look at the distribution of economic gains, i.e. who gets the most from globalisation and who gets less, indeed who loses from it. What is often called economic globalisation usually involves greater economic flows among different countries of the world. Some of this is voluntary and some forced by international institutions and powerful countries. As we saw in the examples at the beginning of this chapter, this flow or exchange can take various forms: commodities, capital, people and ideas. Globalisation has involved greater trade in commodities across the globe; the restrictions imposed by different countries on allowing the imports of other countries have been reduced. Similarly, the restrictions on movement of capital across countries have also been reduced. In operational terms, it means that investors in the rich countries can invest their money in countries other than their own, including developing countries, where they might get better returns.
Q. Where does economic globalisation draw our attention to?
  • a)
    Declining economy
  • b)
    Poverty in the third world countries
  • c)
    To the role of international institutions like the IMF and the WTO
  • d)
    All of the above
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Read the passage given below and answer the questions that follows:Wh...
The IMF and the WTO are international organizations with about 150 members in common. While the IMF’s central focus is on the international monetary and financial system, and the WTO’s is on the international trading system, both work together to ensure a sound system for global trade and payments.
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Most Upvoted Answer
Read the passage given below and answer the questions that follows:Wh...
Where does economic globalisation draw our attention to?
Economic globalisation draws our attention to the role of international institutions like the IMF and the WTO.

Explanation:
- Economic globalisation is a complex concept that involves various dimensions, with the economic facet being a significant aspect of contemporary debates surrounding globalisation.
- When we talk about economic globalisation, the focus shifts towards international institutions like the IMF and the WTO, which play a crucial role in determining economic policies globally.
- However, it is important to note that economic globalisation is not limited to the actions of these international institutions alone. It involves many other actors and factors.
- A broader understanding of economic globalisation requires us to examine the distribution of economic gains, looking at who benefits the most from globalisation and who loses out.
- Economic globalisation involves increased economic flows among different countries, both voluntarily and under pressure from international institutions and powerful nations.
- This flow can take various forms such as commodities, capital, people, and ideas, leading to greater trade and investment opportunities globally.
- The reduction of restrictions on imports and movement of capital across borders has facilitated this economic exchange, allowing investors to seek better returns in different countries, including developing nations.
Therefore, economic globalisation draws our attention to the multifaceted nature of global economic interactions, involving not just international institutions but also various actors and processes influencing global economic activities.
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Read the passage given below and answer the questions that follows:While everything may not be known about the economic facets of globalisation, this particular dimension shapes a large part of the content and direction of contemporary debates surrounding globalisation. A part of the problem has to do with defining economic globalisation itself. The mention of economic globalisation draws our attention immediately to the role of international institutions like the IMF and the WTO and the role they play in determining economic policies across the world. Yet, globalisation must not be viewed in such narrow terms. Economic globalisation involves many actors other than these international institutions. A much broader way of understanding of economic globalisation requires us to look at the distribution of economic gains, i.e. who gets the most from globalisation and who gets less, indeed who loses from it. What is often called economic globalisation usually involves greater economic flows among different countries of the world. Some of this is voluntary and some forced by international institutions and powerful countries. As we saw in the examples at the beginning of this chapter, this flow or exchange can take various forms: commodities, capital, people and ideas. Globalisation has involved greater trade in commodities across the globe; the restrictions imposed by different countries on allowing the imports of other countries have been reduced. Similarly, the restrictions on movement of capital across countries have also been reduced. In operational terms, it means that investors in the rich countries can invest their money in countries other than their own, including developing countries, where they might get better returns.Q. In terms of trade, what is the impact of globalisation?

Directions: Based on the case study given below answer the questions that follow.One natural question is what Covid-19 will mean for globalisation. Globalisation is the accelerated flow of goods, people, capital, information, and energy across borders, often enabled by technological developments.Over the past three decades, globalising trends were assumed to be the new normal. Trade without tariffs, international travel with easy or no visas, capital flows with few impediments, cross-border pipelines and energy grids, and seamless global communication in real-time appeared to be the natural endpoints towards which the world was moving, if at different rates for different places.How could Covid-19 impact these trends? There will almost certainly be calls for the re-nationalisation of manufacturing, particularly for what are considered critical or essential goods. The recent bickering over personal protective equipment (PPE) and pharmaceuticals have brought this to the fore. This will further complicate trade agreements, both those in force and those under negotiation.The globalisation of people, including short-term tourist or business traffic, may face new kinds of restrictions.National governments will have to weigh the risks ofcontagious diseases against the benefits of ease of travel or may have to consider stronger safeguards. In turn, the globalisation of finance will be indirectly affected: Less migration and business travel coupled with incentives to invest at home will hinder transactional capital flows.Q. Identify the reason most unlikely responsible for globalisation

Directions: Based on the case study given below answer the questions that follow.One natural question is what Covid-19 will mean for globalisation. Globalisation is the accelerated flow of goods, people, capital, information, and energy across borders, often enabled by technological developments.Over the past three decades, globalising trends were assumed to be the new normal. Trade without tariffs, international travel with easy or no visas, capital flows with few impediments, cross-border pipelines and energy grids, and seamless global communication in real-time appeared to be the natural endpoints towards which the world was moving, if at different rates for different places.How could Covid-19 impact these trends? There will almost certainly be calls for the re-nationalisation of manufacturing, particularly for what are considered critical or essential goods. The recent bickering over personal protective equipment (PPE) and pharmaceuticals have brought this to the fore. This will further complicate trade agreements, both those in force and those under negotiation.The globalisation of people, including short-term tourist or business traffic, may face new kinds of restrictions.National governments will have to weigh the risks ofcontagious diseases against the benefits of ease of travel or may have to consider stronger safeguards. In turn, the globalisation of finance will be indirectly affected: Less migration and business travel coupled with incentives to invest at home will hinder transactional capital flows.Q. Covid-19 can threaten the process of globalization by

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Read the passage given below and answer the questions that follows:While everything may not be known about the economic facets of globalisation, this particular dimension shapes a large part of the content and direction of contemporary debates surrounding globalisation. A part of the problem has to do with defining economic globalisation itself. The mention of economic globalisation draws our attention immediately to the role of international institutions like the IMF and the WTO and the role they play in determining economic policies across the world. Yet, globalisation must not be viewed in such narrow terms. Economic globalisation involves many actors other than these international institutions. A much broader way of understanding of economic globalisation requires us to look at the distribution of economic gains, i.e. who gets the most from globalisation and who gets less, indeed who loses from it. What is often called economic globalisation usually involves greater economic flows among different countries of the world. Some of this is voluntary and some forced by international institutions and powerful countries. As we saw in the examples at the beginning of this chapter, this flow or exchange can take various forms: commodities, capital, people and ideas. Globalisation has involved greater trade in commodities across the globe; the restrictions imposed by different countries on allowing the imports of other countries have been reduced. Similarly, the restrictions on movement of capital across countries have also been reduced. In operational terms, it means that investors in the rich countries can invest their money in countries other than their own, including developing countries, where they might get better returns.Q. Where does economic globalisation draw our attention to?a)Declining economyb)Poverty in the third world countriesc)To the role of international institutions like the IMF and the WTOd)All of the aboveCorrect answer is option 'C'. Can you explain this answer?
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Read the passage given below and answer the questions that follows:While everything may not be known about the economic facets of globalisation, this particular dimension shapes a large part of the content and direction of contemporary debates surrounding globalisation. A part of the problem has to do with defining economic globalisation itself. The mention of economic globalisation draws our attention immediately to the role of international institutions like the IMF and the WTO and the role they play in determining economic policies across the world. Yet, globalisation must not be viewed in such narrow terms. Economic globalisation involves many actors other than these international institutions. A much broader way of understanding of economic globalisation requires us to look at the distribution of economic gains, i.e. who gets the most from globalisation and who gets less, indeed who loses from it. What is often called economic globalisation usually involves greater economic flows among different countries of the world. Some of this is voluntary and some forced by international institutions and powerful countries. As we saw in the examples at the beginning of this chapter, this flow or exchange can take various forms: commodities, capital, people and ideas. Globalisation has involved greater trade in commodities across the globe; the restrictions imposed by different countries on allowing the imports of other countries have been reduced. Similarly, the restrictions on movement of capital across countries have also been reduced. In operational terms, it means that investors in the rich countries can invest their money in countries other than their own, including developing countries, where they might get better returns.Q. Where does economic globalisation draw our attention to?a)Declining economyb)Poverty in the third world countriesc)To the role of international institutions like the IMF and the WTOd)All of the aboveCorrect answer is option 'C'. Can you explain this answer? for Humanities/Arts 2024 is part of Humanities/Arts preparation. The Question and answers have been prepared according to the Humanities/Arts exam syllabus. Information about Read the passage given below and answer the questions that follows:While everything may not be known about the economic facets of globalisation, this particular dimension shapes a large part of the content and direction of contemporary debates surrounding globalisation. A part of the problem has to do with defining economic globalisation itself. The mention of economic globalisation draws our attention immediately to the role of international institutions like the IMF and the WTO and the role they play in determining economic policies across the world. Yet, globalisation must not be viewed in such narrow terms. Economic globalisation involves many actors other than these international institutions. A much broader way of understanding of economic globalisation requires us to look at the distribution of economic gains, i.e. who gets the most from globalisation and who gets less, indeed who loses from it. What is often called economic globalisation usually involves greater economic flows among different countries of the world. Some of this is voluntary and some forced by international institutions and powerful countries. As we saw in the examples at the beginning of this chapter, this flow or exchange can take various forms: commodities, capital, people and ideas. Globalisation has involved greater trade in commodities across the globe; the restrictions imposed by different countries on allowing the imports of other countries have been reduced. Similarly, the restrictions on movement of capital across countries have also been reduced. In operational terms, it means that investors in the rich countries can invest their money in countries other than their own, including developing countries, where they might get better returns.Q. Where does economic globalisation draw our attention to?a)Declining economyb)Poverty in the third world countriesc)To the role of international institutions like the IMF and the WTOd)All of the aboveCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Humanities/Arts 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the passage given below and answer the questions that follows:While everything may not be known about the economic facets of globalisation, this particular dimension shapes a large part of the content and direction of contemporary debates surrounding globalisation. A part of the problem has to do with defining economic globalisation itself. The mention of economic globalisation draws our attention immediately to the role of international institutions like the IMF and the WTO and the role they play in determining economic policies across the world. Yet, globalisation must not be viewed in such narrow terms. Economic globalisation involves many actors other than these international institutions. A much broader way of understanding of economic globalisation requires us to look at the distribution of economic gains, i.e. who gets the most from globalisation and who gets less, indeed who loses from it. What is often called economic globalisation usually involves greater economic flows among different countries of the world. Some of this is voluntary and some forced by international institutions and powerful countries. As we saw in the examples at the beginning of this chapter, this flow or exchange can take various forms: commodities, capital, people and ideas. Globalisation has involved greater trade in commodities across the globe; the restrictions imposed by different countries on allowing the imports of other countries have been reduced. Similarly, the restrictions on movement of capital across countries have also been reduced. In operational terms, it means that investors in the rich countries can invest their money in countries other than their own, including developing countries, where they might get better returns.Q. Where does economic globalisation draw our attention to?a)Declining economyb)Poverty in the third world countriesc)To the role of international institutions like the IMF and the WTOd)All of the aboveCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Read the passage given below and answer the questions that follows:While everything may not be known about the economic facets of globalisation, this particular dimension shapes a large part of the content and direction of contemporary debates surrounding globalisation. A part of the problem has to do with defining economic globalisation itself. The mention of economic globalisation draws our attention immediately to the role of international institutions like the IMF and the WTO and the role they play in determining economic policies across the world. Yet, globalisation must not be viewed in such narrow terms. Economic globalisation involves many actors other than these international institutions. A much broader way of understanding of economic globalisation requires us to look at the distribution of economic gains, i.e. who gets the most from globalisation and who gets less, indeed who loses from it. What is often called economic globalisation usually involves greater economic flows among different countries of the world. Some of this is voluntary and some forced by international institutions and powerful countries. As we saw in the examples at the beginning of this chapter, this flow or exchange can take various forms: commodities, capital, people and ideas. Globalisation has involved greater trade in commodities across the globe; the restrictions imposed by different countries on allowing the imports of other countries have been reduced. Similarly, the restrictions on movement of capital across countries have also been reduced. In operational terms, it means that investors in the rich countries can invest their money in countries other than their own, including developing countries, where they might get better returns.Q. Where does economic globalisation draw our attention to?a)Declining economyb)Poverty in the third world countriesc)To the role of international institutions like the IMF and the WTOd)All of the aboveCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Humanities/Arts. Download more important topics, notes, lectures and mock test series for Humanities/Arts Exam by signing up for free.
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What is often called economic globalisation usually involves greater economic flows among different countries of the world. Some of this is voluntary and some forced by international institutions and powerful countries. As we saw in the examples at the beginning of this chapter, this flow or exchange can take various forms: commodities, capital, people and ideas. Globalisation has involved greater trade in commodities across the globe; the restrictions imposed by different countries on allowing the imports of other countries have been reduced. Similarly, the restrictions on movement of capital across countries have also been reduced. In operational terms, it means that investors in the rich countries can invest their money in countries other than their own, including developing countries, where they might get better returns.Q. 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Economic globalisation involves many actors other than these international institutions. A much broader way of understanding of economic globalisation requires us to look at the distribution of economic gains, i.e. who gets the most from globalisation and who gets less, indeed who loses from it. What is often called economic globalisation usually involves greater economic flows among different countries of the world. Some of this is voluntary and some forced by international institutions and powerful countries. As we saw in the examples at the beginning of this chapter, this flow or exchange can take various forms: commodities, capital, people and ideas. Globalisation has involved greater trade in commodities across the globe; the restrictions imposed by different countries on allowing the imports of other countries have been reduced. Similarly, the restrictions on movement of capital across countries have also been reduced. In operational terms, it means that investors in the rich countries can invest their money in countries other than their own, including developing countries, where they might get better returns.Q. Where does economic globalisation draw our attention to?a)Declining economyb)Poverty in the third world countriesc)To the role of international institutions like the IMF and the WTOd)All of the aboveCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Read the passage given below and answer the questions that follows:While everything may not be known about the economic facets of globalisation, this particular dimension shapes a large part of the content and direction of contemporary debates surrounding globalisation. A part of the problem has to do with defining economic globalisation itself. The mention of economic globalisation draws our attention immediately to the role of international institutions like the IMF and the WTO and the role they play in determining economic policies across the world. Yet, globalisation must not be viewed in such narrow terms. Economic globalisation involves many actors other than these international institutions. A much broader way of understanding of economic globalisation requires us to look at the distribution of economic gains, i.e. who gets the most from globalisation and who gets less, indeed who loses from it. What is often called economic globalisation usually involves greater economic flows among different countries of the world. Some of this is voluntary and some forced by international institutions and powerful countries. As we saw in the examples at the beginning of this chapter, this flow or exchange can take various forms: commodities, capital, people and ideas. Globalisation has involved greater trade in commodities across the globe; the restrictions imposed by different countries on allowing the imports of other countries have been reduced. Similarly, the restrictions on movement of capital across countries have also been reduced. In operational terms, it means that investors in the rich countries can invest their money in countries other than their own, including developing countries, where they might get better returns.Q. Where does economic globalisation draw our attention to?a)Declining economyb)Poverty in the third world countriesc)To the role of international institutions like the IMF and the WTOd)All of the aboveCorrect answer is option 'C'. 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What is often called economic globalisation usually involves greater economic flows among different countries of the world. Some of this is voluntary and some forced by international institutions and powerful countries. As we saw in the examples at the beginning of this chapter, this flow or exchange can take various forms: commodities, capital, people and ideas. Globalisation has involved greater trade in commodities across the globe; the restrictions imposed by different countries on allowing the imports of other countries have been reduced. Similarly, the restrictions on movement of capital across countries have also been reduced. In operational terms, it means that investors in the rich countries can invest their money in countries other than their own, including developing countries, where they might get better returns.Q. Where does economic globalisation draw our attention to?a)Declining economyb)Poverty in the third world countriesc)To the role of international institutions like the IMF and the WTOd)All of the aboveCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Read the passage given below and answer the questions that follows:While everything may not be known about the economic facets of globalisation, this particular dimension shapes a large part of the content and direction of contemporary debates surrounding globalisation. A part of the problem has to do with defining economic globalisation itself. The mention of economic globalisation draws our attention immediately to the role of international institutions like the IMF and the WTO and the role they play in determining economic policies across the world. Yet, globalisation must not be viewed in such narrow terms. Economic globalisation involves many actors other than these international institutions. A much broader way of understanding of economic globalisation requires us to look at the distribution of economic gains, i.e. who gets the most from globalisation and who gets less, indeed who loses from it. What is often called economic globalisation usually involves greater economic flows among different countries of the world. Some of this is voluntary and some forced by international institutions and powerful countries. As we saw in the examples at the beginning of this chapter, this flow or exchange can take various forms: commodities, capital, people and ideas. Globalisation has involved greater trade in commodities across the globe; the restrictions imposed by different countries on allowing the imports of other countries have been reduced. Similarly, the restrictions on movement of capital across countries have also been reduced. In operational terms, it means that investors in the rich countries can invest their money in countries other than their own, including developing countries, where they might get better returns.Q. Where does economic globalisation draw our attention to?a)Declining economyb)Poverty in the third world countriesc)To the role of international institutions like the IMF and the WTOd)All of the aboveCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice Humanities/Arts tests.
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