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Consider the following statements.
1. Economic globalisation usually involves greater economic flows among different countries of the world
2. Some of this is voluntary and some forced by international institutions and powerful countries 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?
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Verified Answer
Consider the following statements. 1. Economic globalisation usually ...
What is often called economic globalisation usually involves greater economic flows among different countries of the world. Some of this is voluntary and some forced by international institutions and powerful countries. As we saw in the examples at the beginning of this chapter, this flow or exchange can take various forms: commodities, capital, people and ideas.
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Most Upvoted Answer
Consider the following statements. 1. Economic globalisation usually ...
Statement 1: Economic globalisation usually involves greater economic flows among different countries of the world
Economic globalization refers to the increasing interconnectedness and integration of national economies across the world. It involves the flow of goods, services, capital, and information across borders. Therefore, statement 1 is correct as economic globalization does involve greater economic flows among different countries.
Statement 2: Some of this is voluntary and some forced by international institutions and powerful countries
Economic globalization can occur voluntarily or as a result of external pressures exerted by international institutions and powerful countries. Voluntary economic globalization occurs when countries actively participate in global trade and investment, seeking to benefit from the advantages it offers. On the other hand, some countries may be forced to participate in economic globalization due to various factors such as trade agreements, market access conditions, or financial assistance provided by international institutions or powerful countries. Therefore, statement 2 is also correct.
Conclusion:
Both statements 1 and 2 are correct. Economic globalization involves greater economic flows among different countries, and some of this integration is voluntary while some is forced by international institutions and powerful countries.
Economic globalization refers to the increasing interconnectedness and integration of national economies across the world. It involves the flow of goods, services, capital, and information across borders. Therefore, statement 1 is correct as economic globalization does involve greater economic flows among different countries.
Statement 2: Some of this is voluntary and some forced by international institutions and powerful countries
Economic globalization can occur voluntarily or as a result of external pressures exerted by international institutions and powerful countries. Voluntary economic globalization occurs when countries actively participate in global trade and investment, seeking to benefit from the advantages it offers. On the other hand, some countries may be forced to participate in economic globalization due to various factors such as trade agreements, market access conditions, or financial assistance provided by international institutions or powerful countries. Therefore, statement 2 is also correct.
Conclusion:
Both statements 1 and 2 are correct. Economic globalization involves greater economic flows among different countries, and some of this integration is voluntary while some is forced by international institutions and powerful countries.
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Consider the following statements. 1. Economic globalisation usually involves greater economic flows among different countries of the world2. Some of this is voluntary and some forced by international institutions and powerful countries Which 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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