Question : Statement 1: Positive aspects of globalization include increased access to foreign markets and technologies.
Statement 2: Negative aspects of globalization include cultural homogenization and job losses in certain sectors.
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: Both statements are true.
Solution : The correct answer is (a) Both statements are true.
Statement 1 is true. Globalization opens up opportunities for businesses to expand their markets internationally and gain access to new technologies, leading to potential growth and development.
Statement 2 is true. Globalization can lead to the spread of dominant cultural influences, potentially eroding local cultures and traditions. Additionally, certain sectors may experience job losses or shifts as industries become more globalized and face competition from international markets.
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