Which of the following is correct regarding globalization?
I. It involves creation of networks and activities transcending economic, social and geographical boundaries.
II. Outsourcing is one of the important outcomes of the globalisation process.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Both I and II.
Both statements regarding globalization are correct:
I. It involves the creation of networks and activities transcending economic, social, and geographical boundaries. Globalization connects different parts of the world through trade, technology, communication, and culture, breaking down traditional barriers.
II. Outsourcing is one of the important outcomes of the globalization process. Companies often outsource tasks and services to other countries to take advantage of lower costs and specialized skills, reflecting the interconnected nature of the global economy.