Choose the given statement is True/False:

There are both positive and negative effects of globalisation.

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True

False

answer is A.

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Detailed Solution

It is true. There are indeed both positive and negative effects of globalisation.
1)      Globalisation is an integration of markets across countries, leading to greater interdependence between nations.
2)      However, there are both positive as well as negative aspects of globalisation. On the one hand, globalisation ensures a higher standard of living, the latest technology, and various products available to consumers. On the other hand, it might pose immense competition to small traders as small industries have to close down ultimately after losing to multinational corporations.
3)      For example, in a developing country like India, there are a lot of small industrialists in small towns who hire a lot of labourers, uneducated and unemployed. Still, they might close down due to immense competition, and the workers may be rendered jobless.

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