“Globalisation and greater competition among producers have been of advantage to consumers”. Justify the statement with examples.

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asked Mar 12, 2018 in Social Science by paayal (26,720 points) 4 6 11
“Globalisation and greater competition among producers have been of advantage to consumers”. Justify the statement with examples.

1 Answer

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answered Mar 12, 2018 by sanjaydas (61,430 points) 5 7 7
selected Mar 14, 2018 by faiz
 
Best answer

Globalisation and competition among producers are beneficial to consumers: 

(i) Globalisation and greater competition among producers, both local and foreign producers have been of advantage to consumers.

(ii) There is a greater choice for consumers.

(iii) Then enjoy an improved quality and lower prices for several products.

(iv) They enjoy much higher standards of living that were possible earlier.

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