Question

Explain about MNC’s and Globalisation

Answer 1

An MNC is a company that owns or controls production in more than one nation.

These companies set up offices and factories for production in regions where they can get cheap labour and other resources.

This is done to ensure that the cost of production remains low and MNCs can earn greater profits

Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world