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.
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 false.
Solution : The correct answer is (b) Both statements are false.
Statement 1 is false: The process of globalization has not produced only positive results for India or any other country. While globalization has brought various benefits such as increased trade, access to foreign markets, and technological advancements, it has also presented challenges and negative consequences in some areas, such as job displacement, income inequality, and cultural homogenization.
Statement 2 is false: Market-driven globalization does not necessarily reduce economic disparities among nations and people. In fact, globalization can exacerbate existing inequalities and create new disparities, as it may favor economically powerful nations and multinational corporations over smaller or developing economies. The impact of globalization on economic disparities depends on various factors, including the policies and regulations in place to ensure fair and inclusive outcomes.
