Reason (R) states that globalisation increases the cost of transport and communication. This is incorrect. Globalisation, facilitated by advancements in technology and infrastructure, has historically led to a significant decrease in the costs of transport and communication over time, making global trade and interaction more feasible and less expensive.
Consider the following statement : Assertion (A) : According to the New Economic Policy Globalisation is considered as an instrument of growth. Reason (R) : Globalisation increases the cost of transport and communication. Which is the correct answer?
Asked in TNPSC CS Prelims 2014 · Topic: Nature of Indian Economy (Openness of Economy and Integration with Global Markets)
More Economic Development questions
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