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3.1.1 Define the term globalisation in your own words - NSC History - Question 3 - 2020 - Paper 2
Question 3
3.1.1 Define the term globalisation in your own words. 3.1.2 Give TWO examples in the source of the effects that globalisation had in various societies around the w... show full transcript
Worked Solution & Example Answer:3.1.1 Define the term globalisation in your own words - NSC History - Question 3 - 2020 - Paper 2
Step 1
Define the term globalisation in your own words.
Answer
Globalisation refers to the process through which economies, cultures, and societies around the world become interconnected and interdependent. This includes the flow of goods, services, information, people, and capital across borders, leading to a more integrated global economy.
Step 2
Give TWO examples in the source of the effects that globalisation had in various societies around the world.
Answer
- Increased cross-border trade, which has resulted in the exchange of goods and services on a global scale.
- Enhanced cultural exchange that has affected social structures and lifestyles within societies due to the influence of international trends.
Step 3
According to the source, why did many observers believe that countries have entered 'an uncertain phase' in their economic development? List THREE factors.
Answer
- The increasing volatility of global markets, which has made economic predictions more difficult.
- The disparity in economic growth rates among developed and developing nations, leading to socio-economic tensions.
- The rapid technological advancements that outpace regulatory frameworks, creating challenges for governance in economic growth.
Step 4
Using the information in the source and your own knowledge, comment on Thomas Friedman's claims 'that today globalisation is "farther" (and) "faster".'
Answer
Thomas Friedman’s statement can be interpreted as a reflection of the exponential growth in global connectivity and the speed at which information and goods can be exchanged. In today's digital age, the internet and advanced logistics have allowed businesses to operate globally in real-time. This has enabled firms to expand their reach further and more rapidly than ever before. However, this phenomenon also raises concerns regarding economic disparity and the rapid pace of change, which can create instability in various regions.