1.

Explain the advantages of Globalization.

Answer»
  • 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.


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