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Question : Statement 1: Globalization refers to the increasing integration of economies and societies worldwide.

Statement 2: Globalization promotes the localization of economic activities.

 

Option 1: Both statements are true.

Option 2: Both statements are false.

Option 3: Statement 1 is true, and statement 2 is false.

Option 4: Statement 1 is false, and statement 2 is true.


Team Careers360 22nd Jan, 2024
Answer (1)
Team Careers360 24th Jan, 2024

Correct Answer: Statement 1 is true, and statement 2 is false.


Solution : The correct answer is (c) Statement 1 is true, and statement 2 is false.

Statement 1 is true. Globalization involves the exchange of goods, services, ideas, and culture across borders, leading to increased interconnectedness and interdependence between countries.

Statement 2 is false. Globalization is characterized by the expansion of international trade, investment, and economic cooperation, which often leads to the opposite of localization. Globalization encourages businesses to operate on a global scale, accessing markets and resources in different countries rather than confining their activities to a specific locality.

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