MIKE F. ANTOLINO JR.

BSAIS 3C

CHAPTER 1

1. How globalization helps the economy?

- Globalization helps the economy through other businesses in other countries
having those importing and exporting products of other countries, its realization of
a global common market, based on the freedom of exchange of goods and
capital. Globalization is the biggest part of growth of a country for it reduces
poverty and increases the wealth of the country, having a lot of opportunities to
come to the country, It lowers the cost and expense needed of industries that
could help the economy that would increase the production and services of
people in a country to have jobs.

2. How does factors of production help globalization?

- Factors of production land, labor, and capital, which in globalization it increase
and improve that means it produce more product and service at lower cost, this is
what globalization aim in business to have an extend in capacity so that would
help and give opportunities to those people in country then this would be result in
growth of the economy.
- Land - more resources could we get at lower price like oils, gas and other
commodities that would be necessary.
- Labor - more opportunities to come because people are need for production
means that more opportunities to come as a manager, salesman, engineer and
other jobs would be needed in large scope of industry in globalization
- Capital - we could access modern and advanced technology that would help for
production those are the machines and tools.

3. Why is there an increase in poverty and inequality?

- Globalization then increases inequality which also increases poverty. Economic
inequality varies between societies, historical periods, economic structures or economic
systems, ongoing or past wars, between genders, and between differences in individuals'
abilities to create wealth. We know that economic growth gives a lot of opportunity
and equal opportunity to everyone and yet it is inequality to the economic
outcome which means unequal to the opportunities they get like richer become
more rich and the poor which are pull down.
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4. Why are the multinationals so powerful?
- Multinational corporations are so powerful because they are linked to every
country being known as a norm to every country. They sell and produce products
everywhere that give them more opportunities and advantage to make a lot of
profit. This would be globalization work and those multinationals are the main part
of globalization because they are the one trading internationally in the global
market.
5. How has globalization affected you or some community that you are part of?
- Globalization affect me for it gives opportunity; it gives job, and we can bought
the product to other country would help the country to grow because we have
need that the other country have and we have what they need so globalization is
a great to solve what is missing in a country that is globalization that help one
another giving opportunity to people having jobs and fulfilling that demands in
country for the growth of the every country in just enough amount and it also less
the expense.