Question : Statement 1: Globalization refers to the increasing integration of economies and societies worldwide.
Statement 2: Globalization promotes the decentralization of economic activities.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, and statement 2 is false.
Option 4: Statement 1 is false, and statement 2 is true.
Correct Answer: Statement 1 is true, and statement 2 is false.
Solution : The correct answer is (c) Statement 1 is true, and statement 2 is false.
Statement 1 is true: Globalization refers to the increasing integration and interdependence of economies, cultures, and societies worldwide. It involves the exchange of goods, services, information, and ideas across borders.
Statement 2 is false: Globalization does not necessarily promote the decentralization of economic activities. In fact, globalization can lead to both centralization and decentralization of economic activities depending on various factors such as market dynamics, government policies, and industry structures. The impact of globalization on the centralization or decentralization of economic activities can vary across different sectors and regions.
