Let's evaluate each statement related to globalization: 1. Globalization involves the increasing interconnectedness and integration of economies worldwide. This leads to a shift in the scale of economic activities, with production chains becoming global, markets expanding internationally, and businesses operating across borders. This statement is correct.
Which of the following statements related to globalization is/are correct? 1. It has resulted in the change of scale in economic activities. 2. End of Cold War facilitated globalization. 3. Flow of money in transnational corporations is discouraged. Select the correct answer using the code given below.
Asked in UPSC CAPF 2013 · Topic: Nature of Indian Economy (Openness of Economy and Integration with Global Markets)
More Economic Development questions
- The end of the Cold War marked a significant geopolitical shift, leading to the opening of economies in former communist states, reduced political barriers to trade and investment, and increased international cooperation. This significantly facilitated the expansion and deepening of globalization. This statement is correct. 3. Transnational corporations (TNCs) are major agents of globalization. Their operations involve significant cross-border flows of capital, including foreign direct investment, loans, portfolio investment, and repatriation of profits. Far from being discouraged, the increased flow of money across national borders facilitated by TNCs and financial markets is a defining feature of globalization. This statement is incorrect. Based on the analysis, statements 1 and 2 are correct, while statement 3 is incorrect. 276. During 2014-2015, in which one of the following industrial sectors, the FDI equity inflow was maximum ?
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