LIVE Course for free

Rated by 1 million+ students
Get app now
0 votes
11 views
in GK by (30.0k points)
closed by

What is often called economic globalization usually involves greater economic flows among different countries of the world. Choose the correct statements from the following about the features of economic globalization.

1. The restrictions imposed by different countries on allowing the imports of other countries have been reduced.

2. The restrictions on the movement of capital across the countries have been increased.

3. Developed countries carefully guarded their borders with visa policies to ensure that citizens of other countries cannot take away the jobs of their own citizens.


1. 1 and 3 only
2. 2 and 3 only
3. 1 only
4. All the above

1 Answer

0 votes
by (54.3k points)
selected by
 
Best answer
Correct Answer - Option 1 : 1 and 3 only

The correct answer is 1 and 3 only.

  • The following are the economic implications of globalization:
    • It involves increased economic flows among various countries by enhancing trade in commodities among countries.

  • The regulations on imports and movements of capital have also been minimized.
  • However, globalization has not led to the same degree of increase in the movement of people across the globe.
  • Developed countries have closely guarded borders with strict and carefully drafted visa policies thus ensuring that citizens of other countries cannot hamper the jobs of their citizens. 

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...