GK
PUBLIC ADMINISTRATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Financial market system is centered in a single state
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The growth of a single unified world market
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Geographical location of a firm is of utmost importance
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Foreign capitalist transactions
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Detailed explanation-1: -Globalization is the word used to describe the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.
Detailed explanation-2: -Globalisation has created one big market for jobs and services around the world. Socially it has lead to interaction among various . Culturally, it has increased the collaboration of ideas and values. Politically, it has created governing bodies like United Nations (UN) and World Trade Organisation (WTO).
Detailed explanation-3: -In general, globalization decreases the cost of manufacturing. This means that companies can offer goods at a lower price to consumers. The average cost of goods is a key aspect that contributes to increases in the standard of living. Consumers also have access to a wider variety of goods.