what is globalisation and it's effects
Answers
Globalization is the opening of local and nationalistic perspectives to a broader outlook of an interconnected and inter-dependent world with free transfer of capital, goods, and services across national frontiers.
Effects of Globalization
Globalization has both positive and negative effects. On an individual level, globalization affects both the standard of life and the quality of life. On a business level, globalization affects an organization's product life cycle and an organization's balance sheet. Globalization also affects how governments throughout the world create policies affecting areas such as monetary regulation and trade.
Individual Effects
On an individual level, globalization has affected the standard of life and quality of life of individuals and families throughout the world. Standard of living is the level wealth, comfort, material goods, and necessities available to a certain socioeconomic class in a certain geographic area. Quality of life is the degree to which a person enjoys the important possibilities of his or her life. In many instances, quality of life has improved for those who live in developing nations. For many developing nations, globalization has led to an improvement in standard of living through improved roads and transportation, improved health care, and improved education due to the global expansion of corporations. However, globalization has had a negative effect on individuals who live in developed nations. This is due to the fact that corporations now have the option of establishing manufacturing operations in nations where manufacturing and production costs are less expensive. As a result, many manufacturing jobs leave developed nations and move to developing nations.
her is yrr ans
globalisation is a process of interaction and integration among people, companies, and governments worldwide. As a complex and multifaceted phenomenon, globalization is considered by some as a form of capitalist expansion which entails the integration of local and national economies into a global, unregulated market economy.[1]Globalization has grown due to advances in transportation and communicationtechnology. With the increased global interactions comes the growth of international trade, ideas, and culture. Globalization is primarily an economic process of interaction and integration
Effects of Globalization. Globalization has both positive and negative effects. On an individual level, globalization affects both the standard of life and the quality of life. ... Globalization also affects how governments throughout the world create policies affecting areas such as monetary regulation and trade
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