Question

Institutional safeguards to minimize the negative effects of globalization on those who are economically weak are known as _________

• A. Welfare measures
• B. Social safety nets
• C. Economic liberalization
• D. Voluntary services

Hint:

Social safety nets are programs specifically designed to reduce the negative impacts of economic transitions on vulnerable groups.

Answer 1

The Correct Option is B

Social safety nets are institutional frameworks established to safeguard economically vulnerable populations. These encompass unemployment benefits, pension programs, and social insurance. Their objective is to mitigate poverty and inequality by providing essential financial security for those facing economic hardship, particularly amidst globalization and market-oriented policies.
Conversely, welfare initiatives are more extensive and may incorporate social services. However, "social safety nets" specifically denotes systems that offer direct financial aid or support to at-risk groups.
Therefore, the appropriate designation is (B) Social safety nets.