Which of the following statements is true of globalization?
A)It expands economic freedom and increases the living standards of people.
B)It increases prices and decreases product and service quality.
C)It has curbed the growth of middle class in developing countries.
D)It leads to monopoly of domestic producers.

Question

Which of the following statements is true of globalization?
A)​It expands economic freedom and increases the living standards of people.
B)It increases prices and decreases product and service quality. 
C)It has curbed the growth of middle class in developing countries.
D)​It leads to monopoly of domestic producers.

Quizplus · Accepted Answer

Globalization has led to increased trade, investment, and economic integration among countries, which has expanded economic freedom and increased living standards for many people. It has also enabled firms to access larger markets, leading to economies of scale which lowers production costs, and this cost reduction translates into lower retail prices for consumers in many cases. Furthermore, globalization has increased competition, forcing firms to improve their products and services to remain competitive.

Which of the Following Statements Is True of Globalization