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01 Introduction to Globalization
1. Would you choose local products over products from these foreign companies? Why?
Depends on what field. For example Clothes and Shoes I most likely choose International
product than the local ones. Local ones have some good products but not everything produced
locally are good.
2. With what you have listed, do you have ideas where and when these companies started to
produce goods?
Not at all I only use those kinds of products because the masses usually bought it.
3. What do you think is the relation of consuming products to our subject?
Globalization. Why? Because, globalization enables goods to be produced in different parts of
the world. This greater specialization enables lower average costs and lower prices for
consumers. Domestic monopolies used to be protected by a lack of competition. However,
globalization means that firms face greater competition from foreign firms.
4. What is the difference between the standard of living and the quality of life?
The degree of wealth, comfort, material things, and necessities that are accessible to a
particular socioeconomic class or geographic location is referred to as the standard of life.
Contrarily, quality of life is a personal concept that can gauge happiness.
5. What are some ways you can assess the standard of living?
Things that are simple to quantify, such income, employment prospects, the cost of products
and services, and poverty, are used to gauge a society's standard level of living.