Recent Lessons

Show all results for ""

Feature Overview

Ace your exams with our all-in-one platform for creating and sharing quizzes and tests.

Quizzes

Create quizzes and tests automatically from your content using AI.

Flashcards

Automatically turn your notes into digital flashcards.

Share, Export & Embed

Share with classmates or export to Excel and your learning management system.

Stats & Reporting

Auto-grading quizzes and tests with detailed stats and reports.

Mobile Apps

The smarter way to study – wherever you are.

Pricing

Search...

Economic Globalization Pros & Cons Flashcards

8 Questions

100 Views

Economic Globalization Pros & Cons Flashcards

Choose a study mode

Play Quiz

Study Flashcards

Spaced Repetition

Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What are some advantages of economic globalization?

Increase unemployment

Promote technological exchange (correct)

Enhance quality of life (correct)

Promote economic growth (correct)

What is one benefit of globalization related to economic growth?

Countries can engage in division of labour, reducing production costs and raising productivity.

How does globalization enhance quality of life?

It facilitates the free flow of economic resources, enabling trade for necessary goods and services.

How does globalization promote technological exchange?

It allows developed countries to specialize in technological research and introduces technology to developing countries. Signup and view all the answers

What are some disadvantages of economic globalization?

Widening the gap between the rich and the poor Signup and view all the answers

What is one major concern regarding workers in less developed countries due to globalization?

Exploitation of workers. Signup and view all the answers

How does globalization contribute to unfair competition in international trade?

It promotes international trade through free flow, which can disadvantage local producers. Signup and view all the answers

How does globalization impact inequality between the rich and the poor?

It can widen the gap between the rich and the poor. Signup and view all the answers

Study Notes

Pros of Economic Globalization

Promotes economic growth by allowing countries to specialize in production based on their advantages, leading to reduced production costs and increased productivity.
Enhances quality of life through international trade, enabling countries to exchange goods and services, fulfilling needs more effectively.
Fosters technological exchange, where developed countries innovate in capital-intensive sectors while multinational corporations transfer technology to developing nations during labor-intensive production phases.

Cons of Economic Globalization

Exploitation of workers in less developed countries due to lax labor regulations and lower wages, leading to poor working conditions.
Causes unfair competition in international trade as globalization can disproportionately favor stronger economies, disadvantaging smaller nations.
Contributes to widening inequality between the rich and poor, as benefits of globalization may not be equitably shared, reinforcing economic disparities.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

Explore the advantages and disadvantages of economic globalization with these flashcards. This quiz provides insights into economic growth, quality of life enhancement, and technological exchange among countries. Dive deep into the global economy’s complexities!