GENERAL KNOWLEDGE

Detailed explanation-1: -When countries open up to trade, they tend to grow faster and living standards tend to increase. Since dur to globalization, people with great wealth having higher purchasing power can will affect their standard of living.

Detailed explanation-2: -Positive consequences Multinationals provide new jobs and skills. Multinationals bring foreign currency to local economies when they buy local products and services. The mixing of people and cultures from all over the world enables the sharing of ideas and lifestyles, creating vibrant cultural diversity.

Detailed explanation-3: -Globalisation has been positive by improving the quality of life in many countries. On the other hand, there have been negative impacts of globalisation, such as increased global inequality, increased corruption, loss of jobs and environmental degradation, to name a few.

Detailed explanation-4: -Globalization encourages companies to internationalize and to substantially increase the volume and types of cross-border transactions in goods, services and capital. Also, the globalization leads to rapid dissemination and diffusion of products, technology and knowledge in the world, regardless of the origin.