(a) Assess globalisation in terms of foreign trade and integration of markets.

(i) Foreign trade has been the main channel connecting countries.

(ii) It creates an opportunity for the producers to reach beyond the domestic market.

(iii)Foreign market can be integrated through globalization.

(iv) Expansion of choice of goods for the consumers..

(v) Trade and goods travel from one market to another.

(vi) Choice of goods in the markets rises.

(vii) Prices of similar goods in the two markets tend to become equal.

(viii) More employment opportunities for the people across the world

(b) MNCs have been a major force in the globalisation process connecting distant regions of the world. Justify the statement with suitable arguments.

(i) MNCs are spreading their production and interacting with local producers in countries

(ii) By setting up partnerships with local companies

(iii)By using the local companies for supplies

(iv) MNCs sometimes determine the price, quality, delivery and labour conditions for distant producers

(v) By competing with the local companies or buying them up

(vi) MNCs can provide money for additional investments

(vii)MNCs bring latest technology for production