In the following statements, which are correct explanation about globalization

A. Globalisation is a multi-dimensional concept.
B. Globalisation is about the flows of ideas, capital, commodities and people.
C. Globalisation does not affect traditional conceptions of state sovereignty.
D. Globalisation is purely an economic phenomenon.
E. Globalisation inevitably results in cultural homogeneity.

Choose the correct answer from the options given below:

A, B, E only

The correct answer is Option 3 - A, B, E only

Given statements:

A. Globalisation is a multi-dimensional concept. (Correct)
B. Globalisation is about the flows of ideas, capital, commodities and people. (Correct)
C. Globalisation does not affect traditional conceptions of state sovereignty.
D. Globalisation is purely an economic phenomenon.
E. Globalisation inevitably results in cultural homogeneity. (Correct)

Correction in the incorrect statements:

C. Globalisation does not affect traditional conceptions of state sovereignty.

Correction: Globalisation does affect traditional conceptions of state sovereignty.

One of the debates that has been generated as a consequence of contemporary processes of globalisation relates to its ongoing political impact. How does globalisation affect traditional conceptions of state sovereignty? There are at least three aspects that we need to consider when answering this question: Political, Economic and Cultural.

D. Globalisation is purely an economic phenomenon.

Correction: Globalisation is a multi-dimensional concept. It is purely an economic phenomenon.

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.