Question

State with reasons whether the following statements are True or False.

Globalization results into unequal competition.

Answer 1

Globalisation results into unequal competition- False

Explanation:
The above statement is incorrect. Globalisation is the process of integration of various economies of the world. It implies reducing the restrictions on imports and exports, such as licensing and tariffs. Thereby, it provides equal opportunities to all countries to trade in the international market. Hence, it results in equal competition.