Positive And Negative Impact Of Globalisation
Answers
Explanation:
positive effect
- it provide choice among consumers
- provide competition among international market
- provide a chance to producers to sell their product in international market
- provide country good trade with other country
negative effect
- sometimes economy of country fall down
- some countries also make colonies like India
- some use all resources of country for making their product
Answer:
Globalization is the process of integrating and synchronizing domestic economy with the world economy. In simple words it is the process of opening up of domestic economy doors to the rest of the world.
Explanation:
Essential Conditions For Globalization:-
BUSINESS FREEDOM
INFRASTRUCTURAL FACILITIES
GOVERNMENT SUPPORT
RESOURCES
COMPETITIVENESS
ORIENTATION
IMPACT OF GLOBALIZATION:-
Positive Impact:- It is argued that globalization of under developed countries will improve the allocative efficiency of the resources, reduce the capital output ratio and increase labour productivity and ultimately boost economic development.
Foreign capital will be attached and with its entry, updated modern technology will also enter the nation
Global competition makes the price reduce and production of qualitative goods by the firms.
Expansion of market took place as the market for domestic products now do not be restricted to the country's political boundary
The efficiency of banking and financial sectors will improve , as there will be competition from foreign capital and foreign banks.
Negative Impact:-It increases the pressure on economies for structural and conceptual readjustments.
Due to globalization tremendous redistribution of economic power at world level ultimately translate into a redistribution of political power.
Hope it helps