Choose the correct statement about Globalization from the following:

Globalisation is a multidimensional concept

The correct answer is option (1) - Globalisation is a multidimensional concept

Globalisation as a concept fundamentally deals with flows. These flows could be of various kinds — ideas moving from one part of the world to another, capital shunted between two or more places, commodities being traded across borders, and people moving in search of better livelihoods to different parts of the world. The crucial element is the ‘worldwide interconnectedness’ that is created and sustained as a consequence of these constant flows. Globalisation is a multi-dimensional concept. It has political, economic and cultural manifestations, and these must be adequately distinguished. It is wrong to assume that globalisation has purely economic dimensions, just as it would also be mistaken to assume that it is a purely cultural phenomenon. The impact of globalisation is vastly uneven — it affects some societies more than others and some parts of some societies more than others — and it is important to avoid drawing general conclusions about the impact of globalisation without paying sufficient attention to specific contexts.

Globalization and Westernization are not the same thing. Globalization refers to the increasing interconnectedness and interdependence of countries, economies, cultures, and societies around the world. Westernization, on the other hand, specifically refers to the spread or adoption of Western culture, values, customs, and practices in other parts of the world.