Activity in Economic Development

1)What are Cost and Effects of Globalisation? Explain each.

- The cost and Effects of globalization are:
1. Free trade – The effect of free trade is that it will affect the developing countries.
2. Environmental Cost – The effect of globalization towards the environment is that
because of many companies there will also be an increase in non-renewable
resources.
3. Labor drain – Because of globalization there are more workers who are
excessively working all the time and they cannot move freely.
4. Less cultural diversity -
5. Tax competition and tax avoidance -
2)What impacts will global warming have in the future?
- The impacts of global warming in the future are:
1. Damage to property and infrastructures
2. Lost productivity
3. More migration and security threats
4. Coping cost
5. Human resources
3)How does Globalisation affects poverty in the Philippines.? How can we change this?
- One of the benefits from globalization is that it gives and job opportunities to
everyone, because of different opportunities there are more people given a job in different
companies and it can help to lessen the poverty that our country can experience. But, on the
other side the bad effect of globalizations is that the difference between the rich and the poor
increases that is why there is still poverty happening.
4)How did gadgets contribute to Globalisation?
- Gadgets or technology has one of the greatest contribution to globalization, because
of technology; communications among different countries are more efficient, the scope of the
market increases, it helps the business to have an automated system to check and track the
different events, with the help of the internet connectivity and applications transactions like
payment can be made online, and it helps manufacturing companies to produce goods at a
lesser time and effort.
5)What are the economic and cultural effects of Globalisation?