Question : One negative impact of globalization is:
Option 1: Increased competition for domestic industries
Option 2: Preservation of local customs and traditions
Option 3: Reduction in economic interdependence
Option 4: Promotion of self-sufficiency
Correct Answer: Increased competition for domestic industries
Solution : The correct answer is (a) Increased competition for domestic industries
One negative impact of globalization is the increased competition it brings for domestic industries. As markets become more interconnected on a global scale, domestic industries often face competition from international companies that can offer similar products or services at lower prices or with greater efficiency.
Globalization opens up markets to foreign companies, allowing them to enter and compete in domestic markets. This can put pressure on domestic industries to adapt, innovate, and become more competitive in order to survive in the global marketplace. Some industries may struggle to keep up with the competition, leading to job losses, reduced profitability, and even the closure of businesses.
Question : One positive impact of globalization is:
Option 1: Increased cultural diversity
Option 2: Protection of domestic industries
Option 3: Reduction in income inequality
Option 4: Preservation of traditional practices
Question : One negative impact of globalization on cultural heritage is:
Option 1: Preservation of indigenous languages and traditions
Option 2: Promotion of cultural exchange and understanding
Option 3: Homogenization of global cultures
Option 4: Strengthening of local identities
Question : One negative impact of globalization on the environment is:
Option 1: Preservation of natural resources
Option 2: Increased pollution and resource depletion
Option 3: Promotion of sustainable development
Option 4: Conservation of biodiversity
Question : What is a consequence of globalization on economic change?
Option 1: Decreased trade barriers
Option 2: Lowered economic growth
Option 3: Increased self-sufficiency
Option 4: Reduced global competition
Question : Globalization has led to:
Option 1: Decreased cultural exchange
Option 2: Increased cultural homogenization
Option 3: Reduced influence of multinational corporations
Option 4: Enhanced preservation of local traditions
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile