4.4 Globalisation

• What are the costs associated with globalization?

  Increased prices and poor quality goods
• How does globalization affect consumer prices?

  It drives up prices globally
• What is a consequence of skilled workers migrating due to globalization?

  Loss of skilled labor in developing countries
• How can globalization impact job availability in developing countries?

  It can lead to job losses for workers
• What is a potential negative effect of globalization on local industries?

  They may not compete effectively
• What happens to the quality of services in developing countries due to globalization?

  It may decline due to migration
• What are the benefits of globalization for consumers?

  Wider range of goods and better prices
• How does globalization affect employment rates?

  It can increase employment due to output
• What is one environmental impact of globalization?

  Increased pollution from industrial activities
• How does globalization affect local goods?

  It can lead to a reduction in diversity
• What is a consequence of global brands replacing local products?

  Loss of local cultural diversity
• What is a potential economic effect of globalization on developing countries?

  Increased income inequality
• What can be a result of increased output in developed countries?

  Higher tax revenue for governments
• How does globalization impact the quality of life in developing countries?

  It can improve quality of life
• What is a potential downside of globalization for natural resources?

  Depletion of natural resources
• How does globalization affect local economies?

  It can lead to economic instability
• What is one of the main criticisms of globalization?

  It can lead to environmental degradation
• What is a social impact of globalization on communities?

  Increased migration of skilled workers
• How does globalization influence consumer behavior?

  It increases demand for global brands
• What is a potential benefit of globalization for developed countries?

  Access to cheaper goods and services
• What is one way globalization can affect job markets?

  It can create competition for jobs
• How does globalization impact technological advancement?

  It accelerates technological innovation
• What is a potential impact of globalization on local cultures?

  It can lead to cultural homogenization
• How does globalization affect the availability of skilled labor?

  It can increase the availability of skilled labor
• What is a consequence of increased geographical mobility due to globalization?

  Greater opportunities for employment
• What is a potential environmental consequence of globalization?

  Increased pollution from industrial growth
• How does globalization affect the distribution of wealth?

  It can exacerbate wealth inequality
• What is a potential social consequence of globalization on local communities?

  Loss of traditional jobs
• What are the key areas of globalization mentioned?

  Technological change, international trade, foreign direct investment
• What is one of the main economic impacts of globalization?

  Increased competition among businesses
• How has technology impacted trade in globalization?

  It facilitates trade in products using web technology
• How does globalization influence consumer choices?

  It expands the variety of available products
• What is the role of foreign direct investment (FDI) in globalization?

  It enhances opportunities and opens new markets
• What is a potential downside of globalization for local economies?

  Increased vulnerability to global market fluctuations
• What is a consequence of globalization for less industrialized countries?

  They can tap into larger markets
• How does globalization affect the quality of goods?

  It can lead to improved quality of goods
• What are the components that industrialized countries provide to less industrialized countries?

  Capital, technology, human capital
• What is a potential benefit of globalization for consumers?

  Access to a wider range of products
• What is a potential negative effect of globalization mentioned?

  Income disparity and structural unemployment
• How does globalization impact local employment?

  It can create new job opportunities