Glossary - Concepts - Chapter 4 Class 10 Economics - Globalisation and the Indian Economy - Economics

TERM 

DEFINITION 

MultiNational Companies(MNCs)

Multinational Companies are those that operate in multiple countries and have a large amount of capital to invest.

Globalization 

Globalization is the process of rapid integration or interconnection between countries.  

Investment 

The money that is spent to buy assets such as land, building, machines, and other equipment is called investment.

Foreign investment

Investment made by MNCs is known as Foreign Investment

Trade Barrier

To regulate foreign trade, the government imposed some restrictions on trade. These restrictions are referred to as trade barriers

Liberalization 

Removing barriers or restrictions on trade set by the government is known as liberalization.

Special Economic Zones (SEZs)

In order to attract foreign companies to invest in India, the Government set up industrial Zones known as Special Economic Zones(SEZs).

Foriegn trade

Trade between different countries of the world.