Question : Statement 1: Globalization refers to the increasing integration of economies and societies worldwide.
Statement 2: Globalization promotes the localization 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 involves the exchange of goods, services, ideas, and culture across borders, leading to increased interconnectedness and interdependence between countries.
Statement 2 is false. Globalization is characterized by the expansion of international trade, investment, and economic cooperation, which often leads to the opposite of localization. Globalization encourages businesses to operate on a global scale, accessing markets and resources in different countries rather than confining their activities to a specific locality.
Statement 2: Globalization promotes the decentralization of economic activities.
Question : Statement 1: Globalization promotes cultural diversity and exchange.
Statement 2: Negative aspects of globalization include the spread of infectious diseases
Question : Globalization refers to the increasing:
Question : Statement 1: The 1991 economic policy in India aimed to liberalize the Indian economy.
Statement 2: Liberalization refers to the reduction of government restrictions on economic activities.
Question : Statement 1: The process of globalization has produced only positive results for India.
Statement 2: Market-driven globalization reduces the economic disparities among nations and people.
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile