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2023 Year ago

listening 5.24

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standard of living level of wealth, comfort, and access to goods Many hope globalization will raise the standard of living in developing countries. investment money put into a company or business in order to make a profit and make a business successful The World Bank believes that foreign investment will benefit local economies. employment rate the percentage of people who have jobs unemployment rate the percentage of people who don't have jobs Advocates of globalization cite an increased employment rate in countries that have been integrated into the world economy. Critics, however, worn; that the unemployment rate will, in fact, increase. income money earned from work or investments wages money paid according to the number of hours worked The World Bank reports that on average, incomes have improved in developing countries, but critics complain that inadequate wages are keeping the poorest people stuck in poverty. imports products brought to one country from another to be sold exports products sent from one country to another to be sold The promise of globalization is that old protective barriers against trade will give way to a freer flow of imports and exports.

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