Question

What was the effect of globalisation on workers life

Answer 1

In fact, trade tends to increase an economy's total income. But those gains don't affect all people equally. As low-skill workers watch their job options dwindle and wages decline, demand for skilled workers actually increases.

Answer 2

impact of globalisation on workers and small producers in India is as follows:

(i) Small-scale producers have been adversely affected by globalisation because they are not able to compete with MNCs or other big producers.

(ii) These small-scale producers could not keep their cost of production low and hence, they lost their markets.

(iii) Globalisation and the pressure of competition significantly impacted the lives of workers in India. The producers could not sell their commodities at competitive prices and had to lessen production.