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 KCSE business studies paper 2 revision questions and answers set 6

Explain five merits of globalization to the Kenyan economy.

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Answer Text:
-creation of more jobs.It spreads jobs and employment to the country which has high unemployment due to low economic development.
-Cheaper products. It brings the cost of products down by bringing the cost of labour down.
-Has lead to increased direct investments. It has made rich countries to invest in Kenya.
-It has lead to a greater and faster movement of information. This has helped Kenyans to overcome cultural barriers.
-Wider market. It has increased international market for Kenyan products.
-Increased free trade. Allows increased free trade between nations as global companies overcome trade barriers by setting up production units overseas


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