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Social Change and Development in India India often this is discussed with reference to rising stock markets and also sudden dips because of foreign A ctivity 6.2 investors buying stocks, making a profit and then selling them off. Such transactions can happen only Makealistofproductsthatyoueither because of the communication revolution, which we use or have seen in the market ordiscuss later. seenadvertisedwhichareproduced d. The Weightless Economy or Knowledge Economy by transnational corporations. You canmakealistofproductssuchas: In contrast to previous eras, the global economy is no ¾¾ Shoes longer primarily agricultural or industrial in its basis. The weightless economy is one in which products ¾¾ Cameras ¾¾ Computers have their base in information, as in the case with ¾¾ Televisions computer software, media and entertainment products and internet-based services. A knowledge economy is ¾¾ Cars one in which much of the workforce is involved not ¾¾ Music Systems ¾¾ Cosmetics like soaps or in the physical production or distribution of material goods, but in their design, development, technology, shampoos marketing, sale and servicing. It can range from the ¾¾ Clothes neighbourhood catering service to large organisations ¾¾ Processed Food involved in providing a host of services for both ¾¾ Tea professional meets like conferences to family events ¾¾ Coffee like weddings. We have a host of new occupations that ¾¾ Milk Powder was unheard of a few decades ago, for instance event managers. Have you heard of them? What do they do? Find out about other such new services. e. Globalisation of finance It should also be noted that A ctivity 6.3 for the first time, mainly due to the information technology ¾¾ Countthenumberofchannelsontelevision revolution, there has been that are business channels and provide a globalisation of finance. updatesonstockmarkets,flowsofforeign Globally integrated financial direct investments, financial reports of markets undertake billions various companies, etc. You can choose of dollars worth transactions whether you wish to focus on an Indian within seconds in the electronic language channel or English channels. circuits. There is a 24-hour ¾¾ Find out the names of some financial trading in capital and security newspapers. markets. Cities such as New ¾¾ Do you see any focus on global trends? York, Tokyo and London are Discuss. the key centres for financial ¾¾ How do you think these trends have 78 trading. Within India, Mumbai affected our lives? is known as the financial capital of the country. Reprint 2026-27