Benefits Of Globalisation

Question 1

Increased flow of capital (benefits of globalisation)

Answer 1

Increased trade and economic interdependence resulting in higher revenues and GDP growth
Ex: India has experienced economic growth and employment rates

Question 2

Rise in education (international) (advantages of globalisation)

Answer 2

Facilitate to study abroad
More students seek higher education

Question 3

Better products at lower prices (benefits of globalisation)

Answer 3

GLOBAL COMPETITION drives companies to improve the quality of their products while keeping the prices affordable and giving more variety of products

Question 4

Collaboration and shared resources (advantages of globalisation)

Answer 4

Globalisation encourages COLLABORATION AND SHARED RESOURCES to address global challenges

Question 5

Cross cultural exchanges (benefit of globalisation)

Answer 5

Cross cultural exchanges of ideas, food, music, media and language exposure to different cultures promotes empathy and appreciation for diversity

Question 6

Spread of knowledge and technology (benefits of globalisation)

Answer 6

Rapid spread of technology worldwide leading to progress in different sectors
Ex: agriculture (less intensive)

Question 7

Increased household income

Answer 7

Reduce inflation costs in many economies, increased real wages and a decline in the cost of living, resulting in more affordable lifestyles