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Question : What is a significant impact of globalization on markets?

 

Option 1: Decrease in international trade

 

Option 2: Homogenization of consumer preferences

 

Option 3:  Elimination of all trade barriers

 

Option 4: Reduction in technological innovation

 

Team Careers360 21st Jan, 2024

Correct Answer: Homogenization of consumer preferences

 


Solution :  Globalization leads to the homogenization of consumer preferences, as global brands and products become widely available and popular across different cultures.

 

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Question : In an inflationary situation, which of the following statements is false for a country?

Option 1: Profit rises faster than wages

Option 2: The value of money falls

Option 3: The cost of living rises

Option 4: The country's exports become more competitive

Team Careers360 18th Jan, 2024

Correct Answer: Profit rises faster than wages


Solution : The correct answer is Profit rises faster than wages.

When there is inflation, profits can increase faster than salaries. This is because firms may frequently pass on the expenses of inflation to customers in the form of increased pricing. Furthermore,

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