Understanding the Pros and Cons of Globalization

The video explores globalization, a term describing the integration of world economies, driven by technology and institutions like the WTO. While globalization offers economic benefits, it also poses cultural and environmental challenges. The video evaluates these impacts, particularly on the UK, highlighting both positive and negative effects on its economy.

What is one of the main drivers of globalization in recent times?

• Political stability

• Higher education levels

• Technological advancements

• Increased agricultural production

How has globalization affected local cultures?

• It has no impact on cultures.

• It has made cultures more diverse.

• It has strengthened local traditions.

• It has diluted local cultures.

What is a potential negative impact of multinational corporations in global markets?

• They deplete local resources.

• They improve local infrastructure.

• They increase local investment.

• They create too many jobs.

What is a major environmental concern related to globalization?

• Decreased industrial production

• Shipping of goods across countries

• Reduced air travel

• Increased local farming

What has been a short-term impact of globalization on the UK economy?

• A decrease in the current account deficit

• An increase in manufacturing jobs

• A large current account deficit

• A reduction in service sector specialization

How has the UK economy benefited from globalization in the long term?

• Higher prices and lower output

• Lower prices and higher output

• Increased manufacturing jobs

• Decreased foreign investment

What is a key evaluative tool for assessing globalization's impact?

• Merits and demerits analysis

• Technological advancement rate

• Economic growth rate

• Cultural diversity index