Explain the concept of globalization.

1.	Explain the concept of globalization.
Answer» Globalization is the process of connecting one country economy with the world economy. As the result of which flow of goods, services, technology and labour is easily available in the world. Following improvements have taken place due to globalization: Obstacles of trade between two nations have been removed. Such a condition has been created so that capital exchange can easily take place between two nations. Obstacles in the way of exchange of technology have been removed. Free exchange of labour may be there among different nations of the world. Mixed-effects of globalization have been there on Indian economy.

Answer»

Globalization is the process of connecting one country economy with the world economy. As the result of which flow of goods, services, technology and labour is easily available in the world.
Following improvements have taken place due to globalization:

Obstacles of trade between two nations have been removed.
Such a condition has been created so that capital exchange can easily take place between two nations.
Obstacles in the way of exchange of technology have been removed.
Free exchange of labour may be there among different nations of the world. Mixed-effects of globalization have been there on Indian economy.

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Explain the concept of globalization.

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