CLASS 10TH SOCIAL SCIENCE (BUSINESS STUDIES )UNIT - 3 GLOBALIZATION OF BUSINESS and UNIT – 4 CONSUMER EDUCATION AND PROTECTION NOTES 2021 -22

UNIT - 3 GLOBALIZATION OF BUSINESS

I.Answer the following questions in one sentence each:

1. What is globalization?

 Globalization is the increasing cross-border movement of goods and services

2.When was World Trade Organization ( WTO) started?

 World Trade Organization (WTO) was started in 1995

3. Where is WTO office located?

 WTO office is located at Geneva

II.Answer the following questions.

1. What is Globalization? Explain.

 Globalization is the increasing cross-border movement of goods and services

 International flow of capital, technology and information

 Formation of one worldwide market by obtaining raw materials and other resources from cheap market

 Production of goods in any region of the world at cheaper cost

2. “Globalization is the worldwide economic movement” substantiate your answer.

 Globalization encourages international capital and trade overcoming the political barriers among the countries

 Globalization creates free trade zone by removing the import and export duties

 Through container service in shipping, globalization reduces the transportation expenses

 Globalization helps to reduce the restrictions on capital investment or fully removes the barriers on capital flow.

3. What are the advantages of Globalization?

 Globalization promotes economic growth and generates a wider range of products and services.

 Globalization helps to Increase the standard of living of the people.

 Globalization has made the availability of the similar type of products all over the world.

 Globalization increases the GDP of a country.

 Globalization has helped in increasing the income of the people

 By buying the products from other countries, customers are offered a much wider choice of goods and services.

 Globalization creates competition for local firms and thus keeps the costs down.

 Globalization promotes specialization. Countries can begin to specialist in those products that are best at making.

 Economic interdependence among different countries can build improved political and social links.

4. Make a list of the characteristics of Globalization.

 Increases international trade at a faster rate for the growth of world economy.

 Increases the international flow of capital including foreign investment.

 Globalization creates international agreements leading to organisations like the WTO and OPEC (Oil Producing and Exporting Countries)

 Development of global financial syste

 Increases economic practices like outsourcing by multinational corporations.

 Creates international cultural exchange

5. Explain the negative aspects of Globalization with examples.

 Globalization has resulted in a fiercely- competitive global market with the embarrassment of unethical practices in business dealings.

 It is also observed that globalization helped terrorists and criminals.

 Globalization has expanded the growth and development of cities which has been reduced to garbage-dumps where all the industrial waste is accumulated and pollution levels are skyhigh

 Some of the deadly viral diseases such as AIDS and CANCER, Dengue fever etc., Spread all over the world.

 Globalization has led to environmental degradation

6. What are the aims of World Trade Organisation?

 Bring into force the trade agreements throughout the world.

 Administering the world trade agreements as a mediator.

 Stress for free and independent trade throughout the world.

 Solving trade disputes that arise among the nations.

 Striving to reduce the Taxes in international trade.

 Bringing the international trade under legal framework.

 Assistance to under developed nations to get more facilities in international trade.

 Bringing efficiency in production and trade by utilising resources effectively.

7. Globalization has led to environmental degradation.Why?

 The amount of raw materials needed to run industries and factories is taking a heavy toll on the natural reserves of planet earth and pollution has severely impacted the quality of air that we need so much for our survival

8. The traditional family attached food habits are being slowly disappearing due to globalization.why?

 Fast food chains like McDonalds and KFC are spreading fast in the developing world.

 People have started consuming more junk food.

 This results in the degradation of health and spread of diseases.

 The traditional family attached food habits are being slowly disappearing

UNIT – 4 CONSUMER EDUCATION AND PROTECTION

I. Fill in the blanks with suitable answers:

1. The other name of the Consumer is ..................... (the king of market)

2. Person giving goods or services for money is called .................. (Consumer )

3. The Consumer Day is observed on .................every year. (March 15)

4. In the case of compensation exceeding Rs. one crore, the complaint has to be submitted to the ............................. . (The National Commission)

5. In the case of compensation exceeding 5.00 lakhs, the complaint has to be submitted to the---- (District Forum)

II. Answer the following questions in one word or sentence each:

1. Who is called a consumer?

 Consumer is a person who buys goods or hires or avails services for a consideration called Price or Wages

2. What is the main aim of Consumer Movement?

 The Consumer Movements were started by a few people who suffered on account of continuous exploitation by the traders

3. What is the Right of every Consumer?

 The Right to Protect against the marketing of goods which are hazardous to life and property of the consumers.

4. When did Consumer Protection Act come into force in India?

 1986

5. Who appoints the President of the District Consumer Forum?

 state government

6. When is the World Consumers‟ Day celebrated?

 March 15 every year is celebrated as the World Consumers‟ Day.

7. Who started a movement called AWARE (The Association of Women Against Rising Expenses)?

 Some women of Mumbai started a movement called AWARE

III.Answer the following questions in two or three sentences each:

1. What are the problems faced by consumer?

 Charging excess to the commodities

 False weight and measures

 Selling of adulterated commodities

 Creation of artificial scarcity of commodities by Illegal hoarding

2. What are the causes for consumer exploitation?

 The direct transaction between the producer and consumer has almost stopped. The Price Fixation of the goods and services was done mainly by the middle men.

 It led to many hindrances.

 Consumers had to undergo various difficulties and problems.

 They incurred many losses.

 The development of information technology has led to Tele shopping.

 Through Tele shopping the consumer can sit at home and directly buy the goods from the traders.

3. Mention the four important aims of the Consumer Protection Act  The Act accords importance for safety and quality.  Avoiding production and sale of dangerous goods.  Prevention of Trade Malpractices in the market.  Supervision on Quality, Weights, Measures and Price.  Compensating the Consumers in case of any problem arising as a result of trade.  Creating awareness to the consumers through Consumer Education.

4. What are the major functions of the Consumer Protection Council?

 The Consumer Movements were started by a few people who suffered on account of continuous exploitation by the traders (a few are give in the first paragraph of this chapter).

 Such movements brought pressure on the government and alerted it to formulate new acts to safeguard the interests of the consumers.

 In the last five decades, more than 30 Acts have been implemented.

 E.g. Essential Commodities Act, Weights and Measures Act, Act against Adulteration of Food Articles etc., the Government of India Act 1986 is a significant step in this direction.

5. Mention three stages of Consumer Courts.

 District Forum.

 State Commission.

 National Commission

6. What are the methods to follow to file a complaint in consumer court?

 There is no preseribed proforma to file a case.

 The complaint may be typed one or hand written.

 The complaint should include the name of the person (complainter), Full address and Telephone Number.

 The person or organisation against whom the complaint is made should be, mentioned clearly with address.

 The particulars of the goods by which the loss has incurred and the amont of loss should be specified clearly. The bill or receipt should be enclosed.

 There is no fees or stamp duty for the complaint  No advocate or lawyer is required. The cosumer himself/herself can argue.

7. What are the rights of Consumer?

 The Right to Protect against the marketing of goods which are hazardous to life and property of the consumers.

 The Right to Information.

 Right to Choice

 Right to be Heard

 Right to seek Redressal against the unfair trade practices or unscrupulous exploitation.

 Right to Consumer Education

 Right to stop exploitation.

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