The Impact of Globalization on Economic Welfare, Interdependency Risks, and Sustainability

The video explores globalization's impact on economic welfare, focusing on multinational corporations (MNCs) and their influence. It discusses the advantages and disadvantages of MNCs, including economic growth, job creation, tax issues, and cultural dilution. The video also examines global interdependency risks, trade volatility, and the uneven distribution of income. Finally, it addresses sustainability challenges, such as resource depletion and environmental damage, questioning the long-term viability of globalization.

What are the four key areas of focus when evaluating globalization in an economic context?

• Education, healthcare, infrastructure, social welfare

• Trade agreements, environmental policies, labor laws, tax regulations

• Cultural exchange, technological advancement, political stability, economic growth

• Multinational corporations, interdependency risks, distribution of benefits, sustainability

Which of the following companies is NOT mentioned as a major multinational corporation?

• Amazon

• Google

• Sony

• Apple

What is one of the main advantages of multinational corporations?

• Increased cultural diversity

• Economies of scale

• Reduced environmental impact

• Lower tax rates

Which of the following is a disadvantage associated with multinational corporations?

• Job creation

• Economic growth

• Increased product choice

• Cultural dilution

What is a significant risk associated with global trade interdependency?

• Volatility in exports

• Decreased reliance on imports

• Increased local production

• Stable political relations

Why is the UK particularly exposed in terms of food imports?

• It exports more food than it imports

• It relies heavily on imported food types

• It produces all its own food

• It has no trade agreements

Which countries are highlighted as having a significant share of global expenditure?

• United States, Japan, China

• Brazil, India, Russia

• South Africa, Nigeria, Egypt

• Mexico, Argentina, Chile

What is a major concern regarding the sustainability of globalization?

• Resource depletion

• Cultural enrichment

• Increased job opportunities

• Technological stagnation

Which factor is NOT a contributor to sustainability challenges?

• Population growth

• Resource depletion

• Technological innovation

• Environmental damage

What is the impact of globalization on income distribution according to the lecture?

• It ensures fair distribution of wealth

• It has no effect on income distribution

• It causes uneven distribution of income

• It leads to equal distribution of income