Instructions

Read the following passage and answer questions

Production may not be a dominant ideological leverage in economic decision making, but it cannot be altogether dismissed from economic calculations at whatever level. The difference that globalization has brought about is not that it has made production concerns immaterial, but that the leading factor is now the consumer and production must do what it can to meet the demands of the market. So every nowand again, one comes up against serious production problems at the national level which are resolved at the global level by importing skills or machinery. Thus while it is true that consumer tastes are getting more homogenized across the world, production facilities have not kept up. Economic difficulties at the national level arise from this mismatch.

Question 181

What cannot be kept out of economic calculations ?


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