Question

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

Answer 1

Answer:

It expands economic freedom and increases the living standards of people.

Explanation:

Globalization is a phenomenon that can be defined as the cultural, social and economic interaction between the countries of the world, which was motivated by the technological innovations that occurred, such as new means of transport and the internet.

The distances between countries have become shorter, the ease of transportation and current instant communication enable greater interaction including business, which contributes to the expansion of economic freedom, as there is greater industrialization, greater import and export favored by economic interactions between the countries, which contribute to greater development, greater possibility of doing business in places with lower costs and economic advantages. Such factors favored by globalization contribute to economic growth that positively impacts people's standard of living, creating more jobs and increasing purchasing power.