Given below are two statements: one is labelled as Assertion A and the other is labelled as Reason R. Assertion A: The critics argue that contemporary globalisation represents a particular phase of global capitalism that makes rich richer and poor poorer. Reason R: Globalisation leads to income inequalities which in turn leads the developed countries to outsource production. In light of the above statements, choose the correct answer from the options given below:
Both A and R are true but R is not the correct explanation of A.
Assertion A is true because critics of contemporary globalisation argue that it disproportionately benefits the wealthy and leads to growing income inequality, which is a characteristic of global capitalism. Reason R is also true because globalisation does contribute to income inequality, and it leads to outsourcing by developed countries to take advantage of cheaper labor in other regions. However, Reason R is not the correct explanation for Assertion A because while globalisation may lead to inequality and outsourcing, the assertion specifically focuses on the phase of global capitalism itself, not on outsourcing as the cause of inequality. Therefore, the correct answer is 'b. Both A and R are true but R is not the correct explanation of A.'
Important Questions from Globalisation
WTO is an organisation that sets rules for:
In response to a financial crisis and the desire for a higher rate of economic growth, India initiated a program of economic reforms involving globalization, liberalization, and privatization in which year?
In 1955, a movie Pather Panchali won numerous awards, nationally and internationally. It was directed by:
Write the full form of 'WSF'?
Who was the founder of the Swatantra Party?
