Choose the correct options with relation to economic consequences of globalisation.
A. IMF and WTO play a role in determining economic policies across the world.
B. Globalisation has involved greater trade in commodities across the globe.
C. Imposition of Western Culture is a part of economic globalisation.
D. Economic globalisation has created an intense division of opinion all over the world.
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → (A), (B) and (D) Only
A. IMF and WTO play a role in determining economic policies across the world. Correct. Economic globalisation draws our attention to the role of international institutions like the IMF and the WTO in determining economic policies across the world.
B. Globalisation has involved greater trade in commodities across the globe. Correct. Globalisation has involved greater trade in commodities, as the restrictions on imports imposed by different countries have been reduced.
C. Imposition of Western Culture is a part of economic globalisation. Incorrect. The fear of the imposition of Western culture belongs to the cultural consequences of globalisation, a separate dimension from its economic consequences.
D. Economic globalisation has created an intense division of opinion all over the world. Correct. Economic globalisation has created an intense division of opinion: some see it as a source of growth and well-being, others fear that it will hurt the poor and the vulnerable.
NCERT (2026-27): “Economic Consequences … The mention of economic globalisation draws our attention immediately to the role of international institutions like the IMF and the WTO and the role they play in determining economic policies across the world.… …Globalisation has involved greater trade in commodities across the globe; the restrictions imposed by different countries on allowing the imports of other countries have been reduced.… Economic globalisation has created an intense division of opinion all over the world.…” |