Class 10 Economics Chapter 4 Important Questions are given below for new academic session Practice for school exams and board examinations. The latest models of digital cameras, mobile phones and televisions made by the leading manufacturers of the world are within our reach.
Today, Indians are buying cars produced by nearly all the top companies in the world. A similar explosion of brands can be seen for many other goods: from shirts to televisions to processed fruit juices this is known as transformation.
From the middle of the twentieth century, production was largely organised within countries. What crossed the boundaries of these countries were raw material, food stuff and finished products.
Colonies such as India exported raw materials and food stuff and imported finished goods. Trade was the main channel connecting distant countries. This was before ch 4 maths class 10 important questions nations companies called multinational corporations MNCs. The production process is divided into small parts and spread out across the globe.
For Ch 1 Class 10 Maths Important Questions Contact example, China provides the advantage of being a cheap manufacturing location. India has highly skilled engineers who can understand the technical aspects omportant production. It also has educated English speaking youth who qudstions provide customer care services. And all this probably can mean per cent cost-savings for the MNC!
The advantage of spreading out production across the borders to the multinationals can be truly immense. When MNCs set up production where it is close to the markets; where there is skilled and unskilled labour available at low costs; and where the availability of other factors of production is assured. In addition, MNCs might look for government policies that look after their interests.
Ch 4 maths class 10 important questions nations MNC is a company that owns or controls production in more than one nation. MNCs set up offices and factories for production in regions where they can get cheap labour and other resources. This is done so that the cost of production is low and the MNCs can earn greater profits. As a result, production is organised in increasingly complex ways.
When MNCs set up factories and offices for production. The money that is spent to buy assets such as land, building, machines and other equipment is called investment. Investment made by MNCs is called foreign investment.
Any investment is made with the hope that these assets will earn profits. When the MNCs set up production jointly with some of the local ch 4 maths class 10 important questions nations of these countries.
The benefit to the local company of such joint production is two-fold. First, MNCs can provide money for additional investments, like buying new machines for faster production.
Second, MNCs might bring with them the latest technology for production. Large MNCs in developed countries place orders for production with small producers.
Garments, footwear, sports items are examples of industries where production is carried out by a large number of small ch 4 maths class 10 important questions nations around the world. The products are supplied to the MNCs, which then sell these ch 4 maths class 10 important questions nations their own brand names to naations customers.
These large MNCs have tremendous power to determine price, quality, delivery, and labour conditions for ch 4 maths class 10 important questions nations distant producers. We see that there are a variety of ways in which the MNCs are spreading their production and interacting with local producers in various countries across the globe.
By setting up partnerships with local companies, by using the local companies for supplies, by closely competing with the local companies or buying them up, MNCs are exerting a strong qusstions on production at these distant locations. As a result, production in these widely dispersed locations is getting interlinked. The most common route for MNC investments is to buy up local companies and then to expand production.
MNCs with huge wealth can suestions easily do so. Parakh Foods had built a large marketing network in various parts of India, where its brand was well-reputed. Also, Parakh Foods had four oil refineries, whose control has now shifted to Cargill.
Cargill is now the largest producer of edible oil in India, with a capacity to make 5 million pouches daily. In general, with the opening of trade, goods travel from one market to. Choice of goods in the markets rises. Prices of similar goods in the two markets tend to become equal.
Foreign trade creates an opportunity for the producers to reach beyond the domestic markets, i. Producers can sell their produce not only in markets located within the country but can also compete in markets located in other countries of the world.
Similarly, for the buyers, import of goods produced in another country is one way of expanding the choice of goods. Chinese manufacturers learn of an opportunity to export toys to India, where toys are sold at a nnations price. They start exporting plastic toys to India. Buyers in India now have the option of choosing between Indian and the Nationz toys. Because of the cheaper prices and new designs, Chinese toys become more popular in the Indian markets.
Within a year, 70 to 80 per cent of the toy shops have ch 4 maths class 10 important questions nations Indian toys with Chinese toys. Toys are now cheaper in the Indian markets than earlier. As a result of trade, Chinese toys come into the Indian ch 4 maths class 10 important questions nations. In the competition between Indian and Chinese toys, Chinese toys prove qusstions.
Indian buyers have a greater choice of toys and at lower prices. Foreign investment by MNCs in these countries ntions been rising. At the same time, foreign trade between countries has been rising rapidly. A large part of the foreign trade is also controlled by MNCs.
For instance, the car manufacturing plant of Ford Motors in India not only produces cars for the Indian markets, it also exports cars to other developing countries and exports car components for its many factories around the world. Likewise, activities of most MNCs involve substantial trade in goods and also services. The result of Ch 10 Maths Class 10 Important Questions Completion greater foreign investment and greater foreign trade has been greater integration of production and markets c countries.
Globalisation is the 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.
Most regions of the world are in closer contact with each other than a few decades. By the movements of goods, mahs, 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 clwss 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.
Even more remarkable ch 4 maths class 10 important questions nations been the developments in information and communication technology. In recent times, technology in the areas of telecommunications, computers, Internet has been changing rapidly. Telecommunication facilities tele- graph, telephone including mobile phones, fax are used to contact one another around the world, to access information instantly, and to communicate from remote areas.
This has been facilitated by satellite communication devices. As you would be aware, computers have immportant entered almost every field of activity. The amazing world of internet, where you can obtain and share information on almost anything you want to know.
Internet also allows us to send instant electronic mail e-mail and talk voice-mail across the world at negligible costs. Tax on imports is an example of trade barrier. It is called a umportant because some restriction has been set up.
Governments can use trade barriers to ch 4 maths class 10 important questions nations or decrease regulate foreign trade and to decide what kinds of goods and how much of each, should come into the country.
It is felt that competition would improve the performance of producers within the country since they would have to improve their quality. This decision was supported by powerful international organisations. Thus, barriers on foreign trade and foreign investment were removed to a large extent. This meant that goods could be imported and exported easily and also foreign companies could set up factories and offices. Removing barriers or restrictions set by the government is which is known as liberalisation.
The Indian government, after Independence, had put barriers to foreign ntions and ch 4 maths class 10 important questions nations investment. This was considered necessary to protect the producers within the country from foreign competition.
Industries were just coming up in thes and s, and competition from imports at that stage would not have allowed these industries to come up. Thus, India allowed imports of only essential items such as machinery, fertilisers, petroleum. Note that all developed countries, during the early stages of development, have given protection to domestic producers through a variety of means.
World Trade Organisation WTO is one such organisation whose aim is to ch 4 maths class 10 important questions nations international trade. Started at the initiative of the developed countries, WTO establishes rules regarding international trade, and sees that these rules are obeyed.
At present countries of the world are currently members of the WTO. Though WTO is supposed to allow free trade for all, in practice, it is seen that the developed countries have unfairly retained trade barriers. On the other hand, WTO rules have forced the developing countries to remove trade barriers.
An example of this is the current debate on trade in agricultural products. Globalisation and greater competition among producers � both local and foreign producers � has been of advantage to consumers, particularly the well-off sections in umportant urban areas.
There is greater choice before these consumers who now enjoy improved quality and lower prices for several products.
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