UPSC Exam > UPSC Questions > Consider the following statements.1. The res...
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Consider the following statements.
1. The result of greater foreign investment and greater foreign trade has been greater integration of production and markets across countries
2. Globalisation is this process of rapid integration or interconnection between countries
Which of the statements/statements is/are correct?
- a)1 Only
- b)2 Only
- c)Both 1 and 2
- d)None of them
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements.1. The result of greater foreign in...
Answer:
Introduction:
The given statements are related to the concept of globalization and its impact on the integration of production and markets across countries. Let's analyze each statement and determine their correctness.
Statement 1: The result of greater foreign investment and greater foreign trade has been greater integration of production and markets across countries.
Foreign investment and foreign trade play a crucial role in the process of globalization. When countries engage in foreign investment and trade, it leads to the exchange of goods, services, and capital between them. This exchange fosters economic interdependence and integration of production and markets across countries. Here's how it happens:
Integration of Production:
1. Foreign investment allows companies to establish production facilities in other countries, taking advantage of lower costs, resources, or expertise.
2. This leads to the creation of global value chains, where different stages of production are spread across multiple countries.
3. Companies source inputs, components, or services from different countries to optimize their production process.
4. As a result, the production process becomes more integrated and interconnected across borders.
Integration of Markets:
1. Foreign trade enables countries to access larger markets and diverse consumer bases.
2. Through exports and imports, countries can sell their products and services to a global customer base.
3. This leads to increased competition, innovation, and specialization, as companies strive to cater to the global market.
4. The integration of markets also facilitates the flow of ideas, technologies, and best practices between countries.
Therefore, it can be concluded that greater foreign investment and foreign trade result in greater integration of production and markets across countries.
Statement 2: Globalization is this process of rapid integration or interconnection between countries.
Globalization refers to the increasing interconnectedness and interdependence of countries through various economic, political, and cultural channels. It involves the integration of goods, services, capital, technology, information, and people across national boundaries. Therefore, statement 2 is correct in defining globalization as the process of rapid integration or interconnection between countries.
Conclusion:
Both statements are correct. The result of greater foreign investment and foreign trade is greater integration of production and markets across countries. This process of integration or interconnection between countries is referred to as globalization.
Introduction:
The given statements are related to the concept of globalization and its impact on the integration of production and markets across countries. Let's analyze each statement and determine their correctness.
Statement 1: The result of greater foreign investment and greater foreign trade has been greater integration of production and markets across countries.
Foreign investment and foreign trade play a crucial role in the process of globalization. When countries engage in foreign investment and trade, it leads to the exchange of goods, services, and capital between them. This exchange fosters economic interdependence and integration of production and markets across countries. Here's how it happens:
Integration of Production:
1. Foreign investment allows companies to establish production facilities in other countries, taking advantage of lower costs, resources, or expertise.
2. This leads to the creation of global value chains, where different stages of production are spread across multiple countries.
3. Companies source inputs, components, or services from different countries to optimize their production process.
4. As a result, the production process becomes more integrated and interconnected across borders.
Integration of Markets:
1. Foreign trade enables countries to access larger markets and diverse consumer bases.
2. Through exports and imports, countries can sell their products and services to a global customer base.
3. This leads to increased competition, innovation, and specialization, as companies strive to cater to the global market.
4. The integration of markets also facilitates the flow of ideas, technologies, and best practices between countries.
Therefore, it can be concluded that greater foreign investment and foreign trade result in greater integration of production and markets across countries.
Statement 2: Globalization is this process of rapid integration or interconnection between countries.
Globalization refers to the increasing interconnectedness and interdependence of countries through various economic, political, and cultural channels. It involves the integration of goods, services, capital, technology, information, and people across national boundaries. Therefore, statement 2 is correct in defining globalization as the process of rapid integration or interconnection between countries.
Conclusion:
Both statements are correct. The result of greater foreign investment and foreign trade is greater integration of production and markets across countries. This process of integration or interconnection between countries is referred to as globalization.
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Consider the following statements.1. The result of greater foreign in...
- The result of greater foreign investment and greater foreign trade has been greater integration of production and markets across countries. Globalisation is this process of rapid integration or interconnection between countries.
- MNCs are playing a major role in the globalisation process. More and more goods and services, investments and technology are moving between countries Besides the movements of goods, services, investments and technology, there is one more way in which the countries can be connected.
- This is through the movement of people between countries. People usually move from one country to another in search of better income, better jobs or better education. In the past few decades, however, there has not been much increase in the movement of people between countries due to various restrictions.
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Consider the following statements.1. The result of greater foreign investment and greater foreign trade has been greater integration of production and markets across countries2. Globalisation is this process of rapid integration or interconnection between countriesWhich of the statements/statements is/are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of themCorrect answer is option 'C'. Can you explain this answer?
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