Question

Additional Questions for Micro H/w #6 1. If globalization continues over the next few decades, how might your life be different? 2. How might governments impact globalization? 3. Name the three business types and describe them.

Answer 1

Answer:

Question 1: If globalization continues over the next few decades, how might your life will be different?

As Darwinian rightly mention “Survival of the fittest” Globalization is nothing but the increasing competition in the world. Which differentiate people to people and country to country? In country's perspective it will help in improving innovation, growth on FDI, technology in short – it will improve on counties economy. However ever advantages has demerits too – due to globalization many manufacturing industry will planted hence pollution will increase, market competition this will fluctuate on price, people will be more tougher to survive if they are unable to upgrade them self.

In short life will improve, there will the advance medical facilities, and new innovation will apply on day-to-day’s life, also people will differentiate more between rich and poor and climate will no longer same like earlier.

Question 2: How might government impact globalization?

Counties will be more connected for each others betterment. Government will have more tied up for better business (import and export) trade, communication even the influence of politics. Government can give more exposer to their own people by implementing from other develop countries. They can seek help from international countries during financial crises or natural disaster. Government need to upgrade their policies to maintain living standard.

Question 3: Name the 3 business types and describe them:

1) Service Business- In the current world, every human being is busy fulfilling his/her own work, that come service which is one of the booming industries in the today’s works. For example, Banks, Repair shops, IT Company which prove services etc.

2) Merchandising Business: - In the current world, with the booming economy requirement for human being increases hence, here come “buy & sell” business. The key process includes in merchandising are making profit by exchanging goods to different parties without changing the product’s form. Example: distributors, stores etc.

3) Manufacturing Business: - When we gather raw material, labor and machine etc. in order to produce a product which benefit to an individual is can manufacture. If we transform that into a mass production and produce in market then its call Manufacturing Business.

For example: Mercedes, BMW, Caterpillar etc.