explain the benifits or advantage of the globalisation
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Advanatges :1.More customer, creating more profits and revenue for companies.
2.Cheap labour which translates to lower inflation
.3.Technology can easily be transferred and especially beneficial for poor or developing countries.
4.Increased in Foreign Direct Investment, which creates more jobs.
5.A country can diversify its economy faster with the help of globalization. This is especially true for a country that is dependent on natural resources such as oil, and there is an urgency to diversity their economy ASAP.
2.Cheap labour which translates to lower inflation
.3.Technology can easily be transferred and especially beneficial for poor or developing countries.
4.Increased in Foreign Direct Investment, which creates more jobs.
5.A country can diversify its economy faster with the help of globalization. This is especially true for a country that is dependent on natural resources such as oil, and there is an urgency to diversity their economy ASAP.
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Answer:
Globalisation enables goods to be produced in different parts of the world. This greater specialisation enables lower average costs and lower prices for consumers. Domestic monopolies used to be protected by a lack of competition. However, globalisation means that firms face greater competition from foreign firms.
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