Question

What are the advantages of globalization​

Answer 1

Answer:

The advantages of globalization are actually much like the advantages of technological improvement. They have very similar effects: they raise output in countries, raise productivity, create more jobs, raise wages, and lower prices of products in the world economy.

Answer 2

Page 147, Exercise 3.1 Exercise, Question 1, 3

Globalization helps in increasing the standard of living.

. Globalization increases the GDP of a country.

• It helps to reduce the restrictions on capital investments.

• It creates subsidies to trade with

the rest of the world. . It creates harmonization of trade-related intellectual property laws across the majority of countries that may have restrictions.

. It refers to increased trade with the rest of the world.

. The international flow of technology and capital is increased.

. Production can be done in any region of the world where the raw material is available at cheaper