Quick Study 1.4 Unlimited tries The text presents several key globalization debates. Match the descriptions on the cards to each word in the Key Words column. Key Words Manufacturing Jobs Descriptions Show instructions Globalization might undermine policies of democratically elected leaders Standard of Living Outsourcing might reduce these in devel- oped nations Income Inequality Sometimes blamed (rightly or wrongly) for cultural homogenization Extreme Poverty Living on less than $1.90 per day Large US Multinationals Trade might reduce this in developing nations National Sovereignty Trade might increase this in developing nations Reasonable Environmental Laws Most international firms today support these D

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S– If the statement is SUPPORTEDby information in the source materialR– If the statement is REFUTEDby information in the source materialN– If the statement is NEITHERsupported nor refuted by the source material Globalization: Boon or BaneGlobalisation as a term has been defined and described by scholars, policy makers and businesses depending on the benefits that they have been seeking from it. While economists and businessmen have viewed globalisation as the removal of barriers to free trade and as a means to create one global market, sociologists have described it as the intensification of worldwide social relations where local events are shaped by happenings in distant places. It is a fact, however, that the economic benefits and consequences of globalisation and global economy have occupied most of the media and mind space of the participating nations.Such preoccupation with economic activity has prompted UNDP to remark in one of its reports that globalisation, while enhancing the…

Are the following statemen ts true or false? Explain ineach case.a. ''1Wo countries can achieve gains from trade evenif one of the countries has an absolute advantagein the production of all goods."b. "Certain talented people have a comparativeadvantage in everything they do."c. ''U a certain trade is good for one person, it can'tbe good for the other one.''d. ''U a certain trade is good for one person, it isa lways good for the other o ne.''c . "U trade is good for a country, it must be goodfor everyone in the country.''