Seatwork in Economic Development

1) What is the Effects of Globalisation? Discuss.

 Globalization is a process were the world becomes increasingly interconnected and the
world becomes a global village, because of that its effect is there is a speed up of
movement and exchange of human beings, goods and services, technology, capital, and
other cultural practices.
2) What are 3 Impacts of Globalisation. Explain each.
 Economic Impact – It gives an improvement in standard living, an increase competition
among nations, and a widening gap between rich and poor.
 Social Impact – It increases the awareness of foreign culture that leads to loss of local
culture.
 Environmental Impact – It is the different activities that affects the environment like
deforestation, global warming and related problems. Also it is about the environmental
management
3) What are 5 Advantages of Globalisation?
 Increase competitiveness
 Increase International Mobility
 Lower cost Production
 Improvement of Education
 Globalization has lead tremendously because of transport services of the world
4) What are Disadvantages of Globalisation?
 Increase commodity price
 Exploitation of lower labor
 Cause of diseases
 Increase relative poverty and inequality
 Increase vulnerability and instability
 Uneven distributions of wealth
5) Give 2 Disadvantages of Globalisation then discuss.
 Increase commodity Price – It is one of the disadvantage of globalization because of the
changes that the world becomes develop by the process of globalization commodities
also increase their standards like houses it is more expensive to buy houses or to build
houses because of the changes that happens likes increase of standard of living.
 Exploitation of lower labor – It is one of the disadvantage of globalization because there
are many employees or workers that has been working days and nights to produce
bunch of product but for an exchange of low salary only.