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What are the consequences of the globalisation?
1. State withdraws from many of its earlier welfare functions directed at economic and social well-being
2. In place of the welfare state, it is the market that becomes the prime determinant of economic and social priorities
Which of these statements are correct?
- a)1 Only
- b)2 Only
- c)Both of them
- d)Neither of them
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
What are the consequences of the globalisation?1. State withdraws fro...
It withdraws from many of its earlier welfare functions directed at economic and social well-being. In place of the welfare state, it is the market that becomes the prime determinant of economic and social priorities. The entry and then increased role of multinational companies all over the world leads to a reduction in the capacity of governments to take decisions on their own.
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What are the consequences of the globalisation?1. State withdraws fro...
Consequences of Globalisation
1. State withdraws from many of its earlier welfare functions directed at economic and social well-being:
- As countries become more integrated into the global economy, they often reduce their involvement in providing welfare services to their citizens. This can lead to a decrease in social safety nets and a shift towards market-based solutions for social issues.
2. In place of the welfare state, it is the market that becomes the prime determinant of economic and social priorities:
- With the rise of globalisation, market forces often become the primary drivers of economic and social policies. This can lead to a focus on profit-making rather than social welfare, as businesses and markets take precedence in decision-making processes.
Explanation
Both of these statements are correct as globalisation has indeed led to a shift in the role of the state from providing welfare services to prioritising market-driven solutions. As countries open up their economies to global trade and investment, they often reduce their welfare programs in order to remain competitive and attract foreign investment. This can have both positive and negative consequences, as it can stimulate economic growth but also lead to increased inequality and social unrest. It is important for governments to strike a balance between market forces and social welfare in order to ensure the well-being of their citizens in a globalised world.
1. State withdraws from many of its earlier welfare functions directed at economic and social well-being:
- As countries become more integrated into the global economy, they often reduce their involvement in providing welfare services to their citizens. This can lead to a decrease in social safety nets and a shift towards market-based solutions for social issues.
2. In place of the welfare state, it is the market that becomes the prime determinant of economic and social priorities:
- With the rise of globalisation, market forces often become the primary drivers of economic and social policies. This can lead to a focus on profit-making rather than social welfare, as businesses and markets take precedence in decision-making processes.
Explanation
Both of these statements are correct as globalisation has indeed led to a shift in the role of the state from providing welfare services to prioritising market-driven solutions. As countries open up their economies to global trade and investment, they often reduce their welfare programs in order to remain competitive and attract foreign investment. This can have both positive and negative consequences, as it can stimulate economic growth but also lead to increased inequality and social unrest. It is important for governments to strike a balance between market forces and social welfare in order to ensure the well-being of their citizens in a globalised world.
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What are the consequences of the globalisation?1. State withdraws from many of its earlier welfare functions directed at economic and social well-being2. In place of the welfare state, it is the market that becomes the prime determinant of economic and social prioritiesWhich of these statements are correct?a) 1 Onlyb) 2 Onlyc) Both of themd) Neither of themCorrect answer is option 'C'. Can you explain this answer?
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What are the consequences of the globalisation?1. State withdraws from many of its earlier welfare functions directed at economic and social well-being2. In place of the welfare state, it is the market that becomes the prime determinant of economic and social prioritiesWhich of these statements are correct?a) 1 Onlyb) 2 Onlyc) Both of themd) Neither of themCorrect answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about What are the consequences of the globalisation?1. State withdraws from many of its earlier welfare functions directed at economic and social well-being2. In place of the welfare state, it is the market that becomes the prime determinant of economic and social prioritiesWhich of these statements are correct?a) 1 Onlyb) 2 Onlyc) Both of themd) Neither of themCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What are the consequences of the globalisation?1. State withdraws from many of its earlier welfare functions directed at economic and social well-being2. In place of the welfare state, it is the market that becomes the prime determinant of economic and social prioritiesWhich of these statements are correct?a) 1 Onlyb) 2 Onlyc) Both of themd) Neither of themCorrect answer is option 'C'. Can you explain this answer?.
What are the consequences of the globalisation?1. State withdraws from many of its earlier welfare functions directed at economic and social well-being2. In place of the welfare state, it is the market that becomes the prime determinant of economic and social prioritiesWhich of these statements are correct?a) 1 Onlyb) 2 Onlyc) Both of themd) Neither of themCorrect answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about What are the consequences of the globalisation?1. State withdraws from many of its earlier welfare functions directed at economic and social well-being2. In place of the welfare state, it is the market that becomes the prime determinant of economic and social prioritiesWhich of these statements are correct?a) 1 Onlyb) 2 Onlyc) Both of themd) Neither of themCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What are the consequences of the globalisation?1. State withdraws from many of its earlier welfare functions directed at economic and social well-being2. In place of the welfare state, it is the market that becomes the prime determinant of economic and social prioritiesWhich of these statements are correct?a) 1 Onlyb) 2 Onlyc) Both of themd) Neither of themCorrect answer is option 'C'. Can you explain this answer?.
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