Q 1. What is meant by weightless economy?
(Social Change and Development in India Chapter 6:Globalisation and Social Change)

Ans:
The weightless economy is one in which products have their base in information, as in the case with computer software, media and entertainment products and internet based services.

Q 2. Examine the Economic Policy of Liberalisation.
Elaborate the economic policy of liberalisation.
(Social Change and Development in India - Chapter 6 : Globalisation and Social Change)

Ans:

• Globalisation involves a stretching of social and economic relationships throughout the world and this stretching is termed as Liberalisation.
• Liberalisation of the economy meant the steady removal of the rules that regulated Indian trade and finance regulations. These measures are also described as economic reforms.
• Indian economy has witnessed a series of reforms in all major sectors of the economy i.e. agriculture, industry, trade, foreign investment and technology, public sector, financial institutions etc. The basic assumption was that greater integration into the global market would be beneficial to Indian economy.
• The process of liberalisation also involved the taking of loans from international institutions such as the International Monetary Fund (IMF).

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Q 3. Write a note on Globalisation of culture.
(Social Change and Development in India : Chapter 6 :Globalisation and Social Change)

Ans:

• In India we have seen open approach to cultural influences and have been enriched because of it. The last decade has seen major cultural changes leading to fears that our local cultures would be overtaken.
• A central argument is that all cultures will become similar, that is homogeneous. Others argue that there is an increasing tendency towards glocalisation of culture. Glocalisation refers to the mixing of the global with the local.
• Globalisation will lead to the creation of not just new local traditions but global ones too.
• Globalisation can be taken as a bogey to defend unjust practices against women.
• With culture we mainly refer to dresses, music, dances, food.Globalisation includes culture of consumption and corporate culture. Cultural consumption (of art, food, fashion, music, tourism) shapes to a large extent the growth of cities. This is evident in the spurt in the growth of shopping malls, multiplex cinema halls, amusement parks and 'water world' in every major city in India.
• Corporate culture is a branch of management theory that seeks to increase productivity and competitiveness through the creation of a unique organisational culture involving all members of a firm.

Q 4.Write a note on Glocalisation of culture
(Social Change and Development in India : Chapter 6 :Globalisation and Social Change)

Ans:

• Glocalisation refers to the mixing of the global with the local. It is not entirely spontaneous nor is it entirely delinked from the commercial interests of globalisation.
• It is a strategy used by foreign firms while dealing with local traditions in order to enhance their marketability.
• A central contention is that cultures will become homogeneous , similarly others argue that till will lead to glocalisation of culture.

Q 5.Write a note on globalisation and political change.
(Social Change and Development in India : Chapter 6 :Globalisation and Social Change)

Ans:

• A major political change is the collapse of the erstwhile socialist world that hastened globalisation.
• Another significant political development which is accompanying globalisation is the growth of international and regional mechanisms for political collaboration. The European Union (EU), the Association of SouthEast Asian Nations (ASEAN), South Asian Regional Conference (SARC) and more recently South Asian Federation of Trade Association (SAFTA) are just some of the examples that indicate the greater role of regional associations.
• The other political dimension has been the rise of International Governmental Organisations. (IGOs) and International Non-Governmental Organisations (INGOs).
• INGOs differ from intergovernmental organisations in that they are not affiliated with government institutions. Rather they are independent organisations, which make policy decisions and address international issues. Some of the best known INGOs are Greenpeace The Red Cross and Amnesty International, Medecins Sans Frontieres (Doctors Without Borders).

Q 6.Write two features of transnational corporations. OR
State the features of transnational corporations.
(Social Change and Development in India : Chapter 6 :Globalisation and Social Change)

Ans:

• Transnational corporations (TNCs) are companies that produce goods or market services in more than one country.They can be relatively small firms with one or two factories outside the country in which they are based. Or it can also be gigantic international ones whose operations crisscross the globe. Some of the biggest TNCs are companies known all around the world: Coca Cola, General Motors, Colgate-Palmolive, Kodak, Mitsubishi and many others.
• They are oriented to the global markets and global profits even if they have a clear national base. Some Indian corporations are also becoming transnational.

Q 7. Write short note on Globalisation of finance.
(Social Change and Development in India : Chapter 6 :Globalisation and Social Change)

Ans:

• It should also be noted that for the first time, mainly due to the information technology revolution, there has been a globalisation of finance.
• Globally integrated financial markets undertake billions of dollars worth transactions within seconds in the electronic circuits.
• There is 24-hour trading in capital and security markets. Cities such as New York, Tokyo and London are the key centers for financial trading.
• Within India, Mumbai is known as the financial capital of the country.

Q 8. Write a short note on the electronic economy.
(Social Change and Development in India : Chapter 6 :Globalisation and Social Change)

Ans:

• The 'electronic economy' is another factor that underpins economic globalisation. Banks, corporations, fund managers and individual investors are able to shift funds internationally with the click of a mouse.
• This new ability to move 'electronic money' instantaneously carries it with great risks however. In India often this is discussed with reference to rising stock markets and also sudden dips because of foreign investors buying stocks, making a profit and then selling them off.

Q 9. Explain Globalisation and employment.
(Social Change and Development in India : Chapter 6 :Globalisation and Social Change)

Ans:

• The middle class youth from urban centers, globalisation and the IT revolution has opened up new career opportunities.
• Instead of routinely picking up BSc/BA/BCom degrees from colleges, they are learning computer languages at computer institutes or taking up jobs at call centers or Business Process Outsourcing (BPO) companies.
• They are working as sales persons in shopping malls or picking up jobs at the various restaurants that have opened up.

Q 10. Give few examples of INGOs.
(Social Change and Development in India : Chapter 6 :Globalisation and Social Change)

Ans:
The best known INGOs are Greenpeace The Red Cross and Amnesty International, Medecins Sans Frontieres (Doctors Without Borders).