Explanation
Because of the cheaper prices and new designs, Chinese toys become more popular in the Indian markets.
1:In order to increase their profitability many giant firms find it necessary to go in for horizontal and vertical integration. 2:For this purpose they find it profitable to set up their production or distribution units outside their home country.3:The firms that sell abroad the products produced in the home country or the products produced abroad to sell in the home country must decide how to manage and control their assets in other countries.
The Organization of the Petroleum Exporting Countries (OPEC) was founded in Baghdad, Iraq, with the signing of an agreement in September 1960 by five countries namely Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. They were to become the Founder Members of the Organization.
These countries were later joined by Qatar (1961), Indonesia (1962), Libya (1962), the United Arab Emirates (1967), Algeria (1969), Nigeria (1971), Ecuador (1973), Gabon (1975) and Angola (2007).
India imports 35% of its petroleum requirements from foreign. Petroleum comes from Iran, Kuwait, Iraq and Saudi Arabia.
1:In 1985 United Nations adopted the UN Guidelines for Consumer Protection. 2:This was a tool for nations to adopt measures to protect consumers and for consumer advocacy groups to press their governments to do so. At the international level, this has become the foundation for consumer movement.
Under the WTO agreements, countries cannot normally discriminate between their trading partners. Grant someone a special favour (such as a lower customs duty rate for one of their products) and you have to do the same for all other WTO members.
Globalisation is the integration of economies, industries, markets, cultures and policy-making around the world. Globalisation describes a process by which national and regional economies, societies, and cultures have become integrated through the global network of trade, communication, immigration and transportation.
Globalisation's impact is not uniform either for the people of developed or developing countries.
Which of the following is the reason for improvement or change in technology?
The reason for improvement or change in technology is globalisation. Process of integrating domestic economy with world economy is called globalisation. Globalisation enables exchange of social, cultural, technological ideas across the borders. Its effects include access to technology, growth of international trade, increased employment opportunities, free flow of foreign capital etc.
Integrating domestic economy with world economy is called ________.
Process of integrating domestic economy with world economy is called globalisation. Globalisation enables exchange of social, cultural, technological ideas across the borders. Its effects include access to technology, growth of international trade, increased employment opportunities, free flow of foreign capital etc.
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