Impacts of GLOBALISATION.....?
Answers
Greater Number of Jobs: The advent of foreign companies and growth in economy has led to job creation. However, these jobs are concentrated more in the services sector and this has led to rapid growth of service sector creating problems for individuals with low level of education. The last decade came to be known for its jobless growth as job creation was not proportionate to the level of economic growth.
More choice to consumers: Globalisation has led to a boom in consumer products market. We have a range of choice in selecting goods unlike the times where there were just a couple of manufacturers.
Higher Disposable Incomes: People in cities working in high paying jobs have greater income to spend on lifestyle goods. There has been an increase in the demand of products like meat, egg, pulses, organic food as a result. It has also led to protein inflation
Impacts of globisation :-
* Globalization has some negative impacts on employment and real wages.
◆ Usage of new technologies increased output but decreased employment opportunities .
● It led to economic inequalities .
* It decreased the share from agriculture sector in GDP .
◆ We have experienced different quality foreign products due to globalization but it hit hardly small business people and vendors .