Question

What are the advantages and disadvantages of globalisation? ​

Answer 1

Explanation:

Let us make in-depth study of the meaning, advantages and disadvantages of globalisation.

Meaning:

By the term globalisation we mean opening up of the economy for world market by attaining international competitiveness. Thus the globalisation of the economy simply indicates interaction of the country relating to production, trading and financial transactions with the developed industrialized countries of the world.

Accordingly, the term globalisation has four parameters:

ADVERTISEMENTS:

(a) Permitting free flow of goods by removing or reducing trade barriers between the countries,

(b) Creating environment for flow of capital between the countries,

(c) Allowing free flow in technology transfer and

(d) Creating environment for free movement of labour between the countries of the world. Thus taking the entire world as global village, all the four components are equally important for attaining a smooth path for globalisation.

Answer 2

Explanation:

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