Review Quiz in Contemporary World

It is an advantage of globalization that

most of the countries have resorted to trade

relations with each other in order to boost

their economy, leaving behind any bitter

past experiences if any.

• Peaceful Relations

• Employment

• Product Quality

• Communication

It is on of the disadvantage of globalization wherein the rich are getting richer while the poor are getting poorer. In the real

sense, globalization has not been able to reduce

poverty.

• Uneven Wealth Distribution

• Loss of Culture

• Conflicts

• Cut-throat Competition

It is a globalization disadvantage that the

industrial revolution has changed the outlook

of the economy. Industries are using natural

resources by means of mining, drilling, etc. which

puts a burden on the environment.

• Disparity

• Environment Degradation

• Health Issues

• Conflicts

It is considered as one of the most crucial

advantages, globalization has led to the generation of numerous employment opportunities. Companies are moving towards the developing countries to acquire labor force.

• GDP Increase

• Free Trade

• Employment

• Transportation

It is an advantage of globalization that

has brought in fierce competition in the markets.

• Communication

• Cheaper Prices

• Education

• Product Quality

Global flows that interconnect at different points and times.

• Multi-directional flows

• Conflicting flows

• Reverse flows

• Interconnected flows

It emphasizes the fact that cultures are essentially different and are only supperficially affected by global flows.

• Cultural Differentialism

• Cultural Biodiversity

• Cultural Hybridization

• Cultural Convergence

Approach emphasizes the integration of local and global culture. “Glocal”.

• Cultural Hybridization

• Employment

• Product Quality

• Cultural Convergence

It is the increasing similarities between cultures, which is not limited to beliefs, consumer brands, and media.

• Cultural Hybridization

• Cultural Convergence

• Education

• Cultural differences

Pertains to the various cultural creation of practices, new economies, and political groups because of the interaction of elements from different societies in the world

• Heterogeneity

• Homogeneity

• Convergence

• Globalization