Read the passage and answer the question:

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.

Which of the following statements is incorrect?

Statement A- Globalization has only positive effects.

Statement B- In Globalisation it needs not to be that the direction of influence is always from the rich to the poor countries.

Only statement A is incorrect.

The correct answer is Option 1 - Only statement A is incorrect.

Statement A- Globalization has only positive effects. (Incorrect)

Statement B- In Globalisation it needs not to be that the direction of influence is always from the rich to the poor countries. (correct)

If we look for examples of the use of the term ‘globalisation’ in real life, we will realise that it is used in various contexts. Let us look at some examples:

Some farmers committed suicide because their crops failed. They had bought very expensive seeds supplied by a multinational company (MNC).
An Indian company bought a major rival company based in Europe, despite protests by some of the current owners.
Many retail shopkeepers fear that they will lose their livelihoods if some major international companies open retail chains in the country.
A film producer in Mumbai was accused of lifting the story of his film from another film made in Hollywood.
A militant group issued a statement threatening college girls who wear western clothes.

These examples show us that globalisation need not always be positive; it can have negative consequences for the people.The examples show us that globalization need not always be positive; it can have negative consequences for people. Indeed, there are many who believe that globalization has more negative consequences than positive ones. Globalization need not be only about economic issues, nor is the direction of influence always from the rich to the poor countries.