SSC
WORLD GEOGRAPHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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European Union trade policies have resulted in job losses in EU nations
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Many living in the European Union are experiencing a loss of economic power
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The expansion of technology has facilitated globalization in the European Union
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Globalization has resulted in higher standards of living in European Union nations
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Detailed explanation-1: -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.
Detailed explanation-2: -The European Union (EU) is a unique economic and political union between 27 European countries. The EU that we know today has its roots in several treaties signed in the aftermath of the Second World War.
Detailed explanation-3: -Globalization also creates a sense of interdependence among nations, which could create an imbalance of power among nations of different economic strengths. The role of the nation-state in a global world is largely a regulatory one as the chief factor in global interdependence.