Globalization ____________:
A)Is inevitable in a world with converging tastes for consumer goods.
B)increases efficiency
C)is often blamed for increasing inequalities in income distribution in the world.
D)All of the above

Question

Quizplus · Accepted Answer

Globalization is a multifaceted phenomenon with both positive and negative effects. Choice A is correct because globalization has led to the convergence of consumer tastes across the world due to increased access to global media and the internet. Choice B is also correct because globalization has had a significant impact on increasing economic efficiency by intensifying competition and promoting specialization. However, choice C is also accurate because globalization has contributed to increasing inequality in income distribution among countries and within individual countries as it has a disproportionately positive impact on skilled labor and capital owners while disadvantaged individuals often struggle to keep up. Therefore, the correct answer is D, all of the above.