Question

What is globalisation explain two positive and two negative impact of globalisation

Answer 1

Globalisation refers to allowing firms to start business outside the own country .
positive impact
1) chance of growth of domestic firm
2) greater no. of choice for customers
Nagetive impact
1) increase competition for domestic firms
2) outflow of our currency

Answer 2

The process of increasing interconnection of world as a result of more and more trade and cultural exchange is referred to as Globalization.

Following are the positive and negative impacts of Globalization :

1. Positive Impact :

a.  Greater choice for the consumers. The globalization makes available local and foreign goods to the consumers and thus increases their choices.

b.  Globalization leads to greater competition among producers which improves the quality and decreases the prices of products.

2.  Negative Impacts :

a.  It had a negative impact on indigenous industries especially the small ones. The big MNCs and industries expand their business all over the world and thus create problems for local industries.

b.  The globalization leads to the exploitation of labor force in the developing and less developed countries. The MNCs always employ labor force at cheap rates in these countries and thus exploit them.