Globalization and Social Change MCQ Quiz in தமிழ் - Objective Question with Answer for Globalization and Social Change - இலவச PDF ஐப் பதிவிறக்கவும்

The correct answer is - i-R, ii-Q, iii-S, iv-P

Key Points

• i. Electronic Economy - R
  • Enables instantaneous international transfer of funds.
  • This concept involves advanced technology that allows for quick and efficient financial transactions across borders.
• ii. Weightless Economy / Knowledge Economy - Q
  • Products are primarily based in information, such as software or media.
  • This economy focuses on intellectual capabilities rather than physical inputs or natural resources.
• iii. Globalisation of Finance - S
  • Integrated global markets facilitating rapid electronic transactions of capital and securities.
  • It reflects the interconnectedness and interdependence of financial markets worldwide.
• iv. Liberalisation - P
  • Policies implemented since 1991 to open the Indian economy to the global market.
  • Includes measures like reducing trade barriers, deregulating domestic markets, and encouraging foreign investment.

Additional Information

• Electronic Economy
  • Includes online banking, e-commerce, and digital currencies.
  • Has revolutionized the way financial transactions are conducted, making them faster and more efficient.
• Weightless Economy / Knowledge Economy
  • Emphasizes innovation, research, and development.
  • Examples include industries such as IT, education, and biotechnology.
• Globalisation of Finance
  • Leads to increased capital flows, investment opportunities, and economic integration.
  • However, it also introduces risks like financial contagion and economic instability.
• Liberalisation
  • Aims to make the economy more market-oriented and expand the role of private and foreign investment.
  • Key reforms include tax cuts, reducing government subsidies, and promoting competition.

The correct answer is - I, III, and V only

Key Points

• A new international division of labour
  • Globalisation has led to the shift of routine manufacturing to Third World cities where labour is cheaper.
  • This phenomenon is a key characteristic of the new international division of labour.
• New career opportunities for urban middle class youth
  • Globalisation, combined with the IT revolution, has created numerous new career opportunities for urban middle class youth.
  • This has led to significant changes in employment patterns and job markets.
• Threats to traditional livelihoods
  • Traditional entertainers and craftspeople have seen their livelihoods threatened or lost due to the impacts of globalisation.
  • This is a result of changing consumer preferences and the influx of mass-produced goods.

Additional Information

• Flexibility of labour
  • While the flexibility of labour can sometimes work against producers, it is not a guaranteed effect of globalisation.
  • Flexible labour arrangements can lead to job insecurity and unpredictable work conditions.
• Job creation in Asia
  • While Asia has seen significant economic growth, job creation has not always kept pace.
  • Disparities in economic growth and employment rates are evident across different regions.

The correct answer is - Knowledge economy

Key Points

• Objective of Digital India
  • The Digital India programme was launched in 2015 to enhance India's digital infrastructure.
  • It aims to transform India into a digitally empowered society and a knowledge economy.
• Knowledge economy and digital transformation
  • A knowledge economy is one where economic growth is driven by information, innovation, and technology.
  • Digital India promotes e-governance, digital literacy, and entrepreneurship to strengthen the knowledge-based economy.

Additional Information

• Key pillars of Digital India
  • Digital Infrastructure - Ensuring broadband highways, universal access to mobile connectivity.
  • Governance and Services on Demand - Digital identity (Aadhaar), cloud storage (DigiLocker), online services.
  • Digital Empowerment - Digital literacy programs, promoting local language content.
• Impact of Digital India
  • Boosts startups, e-commerce, and online education, strengthening the knowledge economy.
  • Encourages cashless transactions, e-governance, and AI-based solutions.

The correct answer is - South Asia

Key Points

• Largest absolute number of poor people
  • According to the ILO report "Labour and Social Trends in Asia and the Pacific 2005", South Asia had the largest number of poor people.
  • Countries like India, Nepal, and Bangladesh had particularly high poverty rates.
• Economic growth vs. employment growth
  • Despite strong economic growth of over 7%, employment growth remained at only 1.6% (2003-2004).
  • This imbalance led to a high concentration of poverty in South Asia.

Additional Information

• Difference between poverty rate and absolute poverty
  • South Asia has the largest number of poor people due to its high population.
  • However, the highest poverty rate (percentage of people in poverty) is in Sub-Saharan Africa.
• ILO report findings on employment
  • ILO noted a growing employment gap in Asia, where job creation failed to match economic growth.
  • This contributed to persistent poverty despite development efforts.

The correct answer is - (i)-(c), (ii)-(d), (iii)-(a), (iv)-(b)

Key Points

• Globalisation (c)
  • Globalisation refers to the increasing interdependence among countries, people, and regions across the world.
  • It involves the movement of goods, services, capital, and people across national borders.
  • Factors such as technological advancements, trade liberalisation, and economic policies have accelerated globalisation.
• Liberalisation (d)
  • Liberalisation refers to policy decisions aimed at reducing government restrictions on economic activities.
  • It includes reducing trade barriers, deregulating industries, and encouraging foreign investment.
  • In India, liberalisation began in 1991 with economic reforms that opened the economy to global markets.
• Transnational Corporations (TNCs) (a)
  • TNCs are companies that operate in multiple countries by producing goods or providing services across borders.
  • Examples include Apple, Microsoft, McDonald's, and other multinational companies.
  • These corporations influence global trade, employment, and economic policies.
• Weightless Economy (b)
  • A weightless economy is based on intangible products, such as software, internet services, and intellectual property.
  • Unlike traditional industries, this economy depends on digital information and knowledge.
  • Examples include cloud computing, e-commerce, and digital finance.

Additional Information

• Effects of Globalisation
  • Increases economic growth and trade opportunities.
  • Can lead to income inequality and environmental concerns.
  • Promotes cultural exchange and technological advancements.
• Impact of Liberalisation in India
  • Led to rapid economic growth and foreign direct investment (FDI).
  • Encouraged private sector participation in industries.
  • Facilitated growth in IT and service sectors.
• Significance of TNCs
  • Play a crucial role in global supply chains.
  • Contribute to job creation but may also exploit cheap labor in developing nations.
  • Influence government policies through lobbying and economic power.
• Growth of the Weightless Economy
  • Driven by technological innovations and the internet.
  • Enables businesses to scale with minimal physical infrastructure.
  • Major players include Google, Amazon, and Netflix.

The correct answer is - Globalisation

Key Points

• Globalisation
  • Refers to the growing interdependence among different people, regions, and countries worldwide.
  • Driven by the development of information and communication technologies that intensify the speed and scope of interaction.
  • It involves economic, political, and cultural dimensions, reflecting its multifaceted nature.
  • Includes both social and economic relationships that stretch globally, transcending geographical barriers.

Additional Information

• Glocalisation
  • A process of mixing global and local influences to create unique cultural phenomena.
  • Often used by businesses to adapt global products to fit local tastes and preferences.
  • It is not entirely spontaneous and is usually linked to commercial interests.
• Migration
  • Typically refers to the movement of people from one place or country to another for various reasons such as economic opportunities, safety, or family reunification.
• Industrialisation
  • The process whereby an economy is transformed from primarily agricultural to one based on the manufacturing of goods.
  • Involves technological and social changes, leading to urbanization and the development of infrastructure.

The correct answer is - The popularity of ‘Bhangra pop’ and ‘Indi pop’

Key Points

• The popularity of ‘Bhangra pop’ and ‘Indi pop’
  • These music genres are examples of glocalisation, which is a combination of global and local influences.
  • They blend international musical styles with traditional Indian music, showcasing a mix of global and local elements.
  • This phenomenon illustrates the adaptation and integration of global trends into local cultures, creating unique and dynamic cultural expressions.

Additional Information

• Glocalisation
  • This process involves the mixing of global and local cultures to create hybridized cultural phenomena.
  • It is often driven by commercial imperatives and aims to make global products more acceptable and appealing in local markets.
• Examples in India
  • Television: Foreign television channels like Star and MTV broadcast content in Indian languages, catering to local audiences.
  • Food: McDonald's adjusts its menu in India to include vegetarian and chicken options, avoiding beef due to cultural sensitivities.
  • Festivals: During local festivals like Navaratri, international brands may adapt their products and marketing strategies to align with local traditions.

The correct answer is - (A), (B) and (D) only

Key Points

• Contract farming
  • Involves agreements between farmers and multinational corporations (MNCs) for the production and supply of agricultural products.
  • Ensures a predefined price for the produce, which benefits farmers by providing a stable income.
• Increased dependence of farmers on fertilizers and pesticides
  • Globalization leads to the adoption of modern agricultural techniques which often include the use of chemical fertilizers and pesticides.
  • This increases yield but also makes farmers dependent on these inputs provided by global companies.
• Entry of multinationals into the agricultural sector
  • Multinational companies bring advanced technologies and investment into the agricultural sector.This enhances productivity and provides better market access for farmers.

Additional Information

• Promotion of indigenous knowledge for agriculture
  • This is not typically considered an indicator of globalization.
  • Focuses on traditional farming practices and local knowledge, which are often overshadowed by global agricultural practices.
• Effects of globalization on small-scale farmers
  • Globalization can lead to both positive and negative impacts on small-scale farmers.
  • While it provides access to larger markets, it also increases competition and may lead to the marginalization of small farmers.

The correct answer is - Option 4 (A, B, C, and D)

Key Points

• Globalization and its Risks
  • The spread of weapons of mass destruction
    • Globalization facilitates the exchange of technology and information, which can be misused for developing weapons of mass destruction.
    • Increased global connectivity and trade can lead to easier access to sensitive materials and technologies.
  • Pollution
    • Industrial growth driven by globalization often leads to increased pollution due to lax environmental regulations in some countries.
    • Global trade increases carbon emissions through transportation and logistics.
  • International Financial Crisis
    • Globalization interlinks economies, making them vulnerable to financial crises spreading from one country to another.
    • The 2008 financial crisis is an example of how economic turmoil in one region can have global repercussions.
  • Terrorism
    • Globalization facilitates easier movement of people and goods, which can be exploited by terrorist organizations.
    • Increased communication and connectivity allow for the rapid spread of extremist ideologies.

Additional Information

• Pollution
  • Globalization leads to industrialization in developing nations, which often have less stringent environmental regulations.
  • Increased production and transportation associated with global trade elevate greenhouse gas emissions, contributing to climate change.
• International Financial Crisis
  • Financial markets are interconnected; a crisis in one major economy can trigger a global economic downturn.
  • Globalization encourages cross-border investments, which can lead to synchronized economic cycles and shared financial vulnerabilities.
• Terrorism
  • Global networks and communication channels make it easier for terrorist groups to coordinate and plan attacks across borders.
  • Financial globalization can be exploited for money laundering and funding terrorist activities.

An italian consuming paneer tikka in Rome and an Indian consuming pizza in Varanasi is an example of Globalisation of food, commodities and culture.Important Points

• Globalisation is the process of interaction and integration among people, companies, and governments worldwide.
• This increase in global interactions has caused a growth in international trade and the exchange of ideas, beliefs, and culture.
• Globalization is primarily an economic process of interaction and integration that is associated with social and cultural aspects which includes food and commodities.

Additional Information

• Theodore Levitte coined the term Globalisation.
• He stated that the changes in technology and social behaviors that allow multinational companies like Coca-Cola and McDonald's to sell the same products worldwide.