This phenomenon is responsible for both creating a world market for labor and for creating winners and losers in that world market.

Question

Quizplus · Accepted Answer

Globalization refers to the interconnectedness and integration of markets, economies, and cultures worldwide. This has led to a world market for labor, where workers from different countries can compete for the same jobs. However, not all workers in the world market for labor benefit equally from globalization, as some are better equipped to compete while others struggle to keep up. This creates winners and losers in the world market for labor.

This Phenomenon Is Responsible for Both Creating a World Market