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eernone, , Subject: Economics Chapter: Globalization, , ‘Short answer questions, Globalization, by connecting countries shall result in, a) Lesser competition among producers. ©) No change in competition among producers., b) Greater competition among producers., WTO was started with the aim to, ) Liberalise international trade. c) Restrict international trade., ) Increase competition among countries., ‘The most common route for investment by MNC’s in countries around the world is to, a) Set up new factories. ) Form partnership with local companies., b) Buy existing local companies., ‘Any investment is made with the hope that these assets will earn., Foreign trade results in of markets across countries., ‘Which is the most common route for MNC investments?, Rapid improvement in technology has stimulated __ process., Removing barriers or restrictions said by the government is known as., In the recent past Globalization has seen rapid movements in and, between countries., A tax on imports is a trade., ‘What do you mean by the term Globalization?, Define investment and foreign investment., ‘What factors do MNCs consider while choosing locations for their production centres?, ‘What Is the basic function of foreign trade?, How does foreign trade affect local producers and consumers?, , , , , , , , —Long answer questions, How does foreign trade integrate markets across countries?, What are MNC’s? How do MNC’s organize production and why?, Explain the complex production process of MNC’s. Why do they do so?, Explain the ways in which MNC’s operate in different countries and interlink production across, countries., Differentiate between foreign trade and foreign investment, Explain the factors that have enabled Globalization.