IGCSE Development Studies: Specimen Questions with Answers 50 - 51 of 98
Passage
Question 50 (8 of 8 Based on Passage)
Explanation
Advantages of Globalization
- It helps other countries share information about technological developments to developing countries.
- Globalization makes the economy of one country dependent on the economy of other countries.
Disadvantage of Globalization
- Increased flow of skilled and non-skilled jobs from developed to developing nations as corporations seek out the cheapest labor
- Corporate influence of nations states far exceeds that of civil society organizations and average individuals.
Passage
Question 51 (1 of 7 Based on Passage)
Explanation
S. no. | BOT | BOP |
1. | Transactions concerning trade of goods only are recorded. | All transactions concerning goods, services and capital transfers are recorded. |
2. | Transactions of capital nature are not included in Balance of Trade | Transaction of capital nature is also recorded in balance of payment. |
3. | Balance of Trade is a part of current account of balance of payment | BOP is much larger as it has current and capital accounts which include BOP too. |
4. | When exports of goods are higher than the imports of goods, BOT is considered as favorable. | When net balance of current account is in plus. BOP is considered as favorable. |
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