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Fair globalisation refers to ensuring benefits to :
  • a)
    labourers
  • b)
    producers
  • c)
    consumers
  • d)
    all the above
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Fair globalisation refers to ensuring benefits to :a)labourersb)produc...
The correct option is D.
Fair globalisation would create opportunities for all and also ensure that benefits of globalisation are shared better. (i) Government policies must protect the interests not only of the rich and powerful but of all the people in the country.
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Most Upvoted Answer
Fair globalisation refers to ensuring benefits to :a)labourersb)produc...
The correct option is D.
Fair globalisation would create opportunities for all and also ensure that benefits of globalisation are shared better. (i) Government policies must protect the interests not only of the rich and powerful but of all the people in the country.
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Community Answer
Fair globalisation refers to ensuring benefits to :a)labourersb)produc...
Fair globalization refers to the idea of creating a global economic system that benefits all stakeholders involved, including laborers, producers, and consumers. It aims to ensure that the gains from globalization are distributed equitably and that the negative impacts are minimized. The correct answer to this question is option 'D' - all of the above.

Benefits to Laborers:
- Fair globalization seeks to protect the rights and interests of laborers. It aims to ensure that they receive fair wages, have safe working conditions, and are not subjected to exploitation.
- Labor standards, such as those outlined by the International Labour Organization (ILO), are an essential aspect of fair globalization. These standards promote decent work, social protection, and respect for workers' rights.
- By prioritizing the well-being of laborers, fair globalization aims to reduce income inequality, improve living standards, and enhance social justice.

Benefits to Producers:
- Fair globalization recognizes the importance of supporting producers, particularly those in developing countries. It aims to provide them with opportunities for economic growth and development.
- This can be achieved through fair trade practices, which ensure that producers receive fair prices for their products and have access to international markets.
- Fair globalization also emphasizes the need for sustainable production practices that protect the environment and promote long-term economic viability.

Benefits to Consumers:
- Fair globalization aims to ensure that consumers have access to safe, affordable, and high-quality products and services.
- It promotes consumer protection measures, such as product safety regulations, labeling requirements, and fair competition policies.
- Fair globalization also encourages transparency and information sharing, allowing consumers to make informed choices and hold businesses accountable for their actions.

Overall, fair globalization recognizes the interconnectedness of laborers, producers, and consumers in the global economy. It acknowledges that sustainable economic growth and development can only be achieved when all stakeholders are treated fairly and have their needs and interests considered. By ensuring benefits to laborers, producers, and consumers, fair globalization aims to create a more inclusive and equitable global economic system.
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