BUSINESS ENVIROMENT — OCM STD 12 Commerce — Question
Gujarat BoardEnglish MediumSTD 12 CommerceOCMBUSINESS ENVIROMENT3 Marks
Question
Mention negative effects of globalization.
✓
Answer
Negative effects / disadvantages of globalization:
Arrangement to set up market is difficult as well as costly.
Production of luxury items increases at the cost of essential necessities.
Changes in human mentality causes new problems.
Increase in inequality of income and wealth.
Constant competition kills ethical values.
More advantages to large sized industries, small industries have to struggle for existence.
Spread of education is relatively lesser than the spread of development.
So the employees lack competitive ability and become weak.
Economic condition of one country or continent speedily affects other countries.
Normally multinational companies influence the monetary policy of the country which is suitable to them by strengthening relations with political parties.
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