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Question

Rapid integration between countries is known as:

The correct answer is

Globalisation

Understanding Rapid Integration Between Countries

The question asks for the term that describes the rapid integration occurring between countries. Integration between countries can happen in various ways, including economic, social, cultural, and political aspects.

Let's examine the given options:

Analyzing the Options for International Integration

  • Globalisation: This term refers to the increasing interconnectedness and interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, flows of investment, people, and information. It involves reducing barriers between countries and increasing interaction and integration on a global scale. This aligns well with the idea of "rapid integration between countries."
  • Liberalization: This term typically refers to the removal of restrictions, especially in economic policies, to allow for freer movement of goods, services, capital, and labor. While liberalization is often a driving force behind globalization, it is a process or policy change rather than the overall phenomenon of integration itself.
  • Modernisation: This term refers to the process of adopting modern ways, ideas, or technologies. It is a broad concept related to societal development and doesn't specifically describe integration between countries, though modern technologies like the internet and transportation facilitate globalization.
  • Privatisation: This term refers to the transfer of ownership of assets or services from the public sector (government) to the private sector. This is an internal economic reform policy within a country and is not about integration between countries.

Based on the definitions, Globalisation is the most accurate term to describe the rapid integration that occurs between countries across various dimensions like economic, social, and cultural.

Why Globalisation is the Correct Term

Globalisation directly addresses the phenomenon of countries becoming more integrated and interconnected. The "rapid" aspect highlights the accelerating pace of this integration in recent decades due to advancements in technology, communication, and transportation, as well as policy changes like liberalization.

Revision Table: Comparing Key Terms

Term Meaning Relation to International Integration
Globalisation Increasing interconnectedness and interdependence of countries (economic, cultural, social). Directly describes the rapid integration between countries.
Liberalization Removal of economic restrictions. A policy that facilitates globalisation, but not the overall integration itself.
Modernisation Adoption of modern ways. A broad societal change, indirectly related as modern tech aids globalisation.
Privatisation Transfer of public assets to private ownership. An internal economic policy, not international integration.

Additional Information on Globalisation

Globalisation is a multifaceted phenomenon with significant impacts worldwide. Key drivers include:

  • Improvements in transportation technology (e.g., container shipping, air travel).
  • Revolution in information and communication technology (internet, mobile phones).
  • Trade liberalization policies (reduction of tariffs and non-tariff barriers).
  • Increased flow of capital and investment across borders.

The effects of globalisation are debated, involving both potential benefits (e.g., economic growth, cultural exchange) and challenges (e.g., increased inequality, environmental concerns, cultural homogenization).

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Important Questions from National Income Accounting

  1. Division of labour often involves

    1. specialized economic activity.

    2. highly distinct productive roles.

    3. involving everyone in many of the same activities.

    4. individuals engage in only a single activity and are dependent on others to meet their various needs.

    Select the correct answer using the code given below:

  2. ________ capital refers to the variety of raw material and money in hand during the production.

  3. The Goods and Services Tax allowed India to become:

  4. Which of the following is an example of primary activity of the economic sector of India?

  5. Which of the following taxes was introduced in India to achieve the goal of 'One Nation, One Tax, One Market'?

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