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How can economic globalization Affect your life or your families?

economy has a big impact towards your life, it can change your lifestyle and actions, however economic globalization can affect the life of yourself and families by; given a reduction of usual cost of money, level rises of v.a.t. and not enough to spend on families or others.


What kind of economic system did India operate under during 1947 to 1990?

agrarian...its moving towards a liberalized semi-capitalistic export based economy. Globalization and its vast rural population.


Why are there tariffs on imports?

Tariffs are usually a form of punishment towards anther country. When the Chinese joined the Nazis for example America put a tariff on oil.


What is allocation of resources?

Resources are used to produce products. For example, labour is a resource. Allocation of resource means using resources. For example, if a region's labour supply works on farms to grow apples, the labour resource is allocated towards growing apples


Globalization and its effects?

Globalization is a broadly used term. The extent of meanings attached to it seems to be rather growing than decreasing over time, taking on cultural, political and economic aspects. One of the factors that suggest the trend towards globalization is the lowering of trade barriers that enables the free flow of goods, services and capital from one country to another. Producers are specialized in the manufacturing and export of goods and produce their goods more efficiently without governmental intervention or impose of tariffs, quotas and duties. Thus, the mobility of labor and capital is increased leading to production gains as the amount of commodities made available to consumers increase due to product specialization. Foreign investment is encouraged, while capital market liberalization lowers the cost of capital enabling firms to borrow lower and create job opportunities through foreign direct investment. On the other hand: a) The developing world does not have the same opportunities for production and specialization like the developed countries. Developing world cannot export their goods at the same prices that the developed world does because they don't have the facilities to do so. b) Manufacturing jobs in developed countries are destroyed because of globalization. c) In the absence of adequate regulations and policies to protect labor and the environment, the developed world moves its manufacturing facilities to less developed countries in order to avoid the costs associated with regulations of environmental protection that they have to face in their countries. d) Globalization enables the quick shift of economic power away from national control and towards supra-national organizations such as the World Trade Organization (WTO), the United Nations (UN) and the European Union (EU).

Related Questions

Which of the following is an example of stewardship towards the environment?

volunteering to help plant trees


What was Buddhas' views on how to judge people?

Buddhism is concerned with your own progress towards enlightenment, not your judgement of the progress of others.


How does literacy contribute towards the progress of a country?

champak lal


What does entropy show?

Our progress towards the heat death of the universe.


Is it possible to get fit in a month?

It is possible to make progress towards getting fit in a month by following a consistent exercise routine and healthy diet, but significant changes may take longer to achieve.


What constitutes unethical communication?

it is self dependibility towards globalization and other financial restrictions that are considered inter connected with the issue.


What is Romania's policy for Womens rights?

Romania's policy on Human's Rights is to do more about the problem an example is: progress has been made towards the fight against trafficking in human beings, it remains a problem.


What is meaning of name Pranoti?

it means pad unnati means towards progress


How do I track my scout's progress?

You can track your scout's progress by looking at their handbook. Towards the end of the handbook, there is a section with all of the requirements for each rank.


How can we practice forgiveness towards one another, following the example of how I have forgiven you?

To practice forgiveness towards one another, we can follow the example of forgiving others as we have been forgiven. This involves letting go of resentment and choosing to show compassion and understanding towards those who have wronged us. By extending grace and empathy, we can foster healing and reconciliation in our relationships.


What challenges do the characters face in "Pilgrim's Progress" as they journey towards their ultimate destination?

The characters in "Pilgrim's Progress" face various challenges such as temptations, doubts, and obstacles that test their faith and determination as they journey towards their ultimate destination, which is the Celestial City.


What is a constructive manner?

A constructive manner assists progress towards a goal , and only offers helpful, warranted criticism if it will assist forward progress, and not hinder it or cause discord .