Risks of Globalization

Question 1

These innovations are revolutionary in nature

Answer 1

Radical Innovation

Question 2

It is the application of scientific knowledge for practical purposes or the branch
of knowledge concerned with applied sciences.

Answer 2

Technology

Question 3

It is a creation of new product or service or process, innovation is the
introduction of new product or service or process into the market place

Answer 3

Invention

Question 4

These innovations take existing technologies and link new technologies in novel
ways.

Answer 4

Architectural Innovations

Question 5

Technological changes in the educational industry have created new ways to
teach and to learn

Answer 5

Education

Question 6

Advantages of Globalization

Answer 6

-Building up the economic and social structures of struggling countries and economies through
free trade
-Creation of a world-power and less and less compartmentalized power sectors
-Learning about and sharing new and exciting cultures with one another
-The opportunity and desire for prosperous nations to help countries struggling with severe
issues like unemployment, disease, and natural disasters
-A more significant opportunity for travel and it increases free trade between nations

Question 7

Disadvantages of Globalization

Answer 7

-The oppression of weaker and poorer economies by more robust ones
-The danger of job loss
-Multinational corporations often get away with poor, unsafe, unethical, or exploitative working
conditions due to variations in laws and regulations from one country to another
-Multinational corporations can exploit tax haven nations, sending large portions of revenue
offshore to avoid taxation.

Question 8

refers to equal opportunity and the same levels of support for all segments of society

Answer 8

Equality

Question 9

goes a step further and refers to offering varying levels of support depending upon the need to
achieve greater fairness of outcomes

Answer 9

Equity

Question 10

two or more actors impact and rely on each other

Answer 10

Interdependence

Question 11

Effects of Human Interdependence and Globalization

Answer 11

-Competition is a positive effect
-Globalization also affects employment

Question 12

Risks of Globalization

Answer 12

-Interdependence
-Equity distribution
-National Sovereignty