Questions and Answers
What is one of the primary benefits of globalization for less developed countries?
Access to jobs and investment funds
What is the main goal of promoting free trade?
To promote economic growth and development
What is a consequence of globalization for more developed countries?
Access to lower cost resources and labor
What is a result of globalization for the global economy?
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What is a benefit of globalization for the economy?
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Study Notes
Globalization and Resource Allocation
- Globalization shifts jobs and capital to areas that require them, promoting economic growth and development.
- It allows more developed countries to tap into lower-cost resources and labor, increasing their competitiveness.
- Less developed countries benefit from globalization by gaining access to jobs and much-needed investment funds for development.
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