Are there any costs as well as benefits to globalisation

Benefits: 

> Increased real national income and hence standard of living

> Increase in the size of markets allowing MNC's to exploit and take advantage of economies of scale

> Allowing domestic markets to benefits from lower prices hence increasing utility

Costs:

> Increased inequality between developing and already developed nations

> Increasing strain on the atmosphere

> Possibilty of MNC's exploiting vulnerable workers

NM
Answered by Naim M. Economics tutor

1638 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

Define what is meant by GDP, and explain the limitations of using it as a proxy for economic growth.


Why is a certain level of inflation desired?


Is GDP a good measure of growth in living standards


Explain the likely effects on the circular flow of income of the change in unemployment between 2013 and 2015.


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

MyTutor is part of the IXL family of brands:

© 2025 by IXL Learning