Question

globalisation and greater competition among both local and foreign producers have been of advantage to consumers. explain

Answer 1

Globalisation and greater competition amongproducers-both local andforeign, has been of advantage to consumers in the following ways
(i) Companies have invested in new technology to raise their production quality to compete with the MNCs, thus, ensuring that consumers get better quality products and be satisfied.
(ii) Indian companies have collaborated with MNCs to produce more functional and advanced products, thus, benefitting the consumers.
(iii) Consumer can enjoy improved quality at lower prices for several products. This has led to higher standard of living.
(iv)Due to competition the prices of various products had come down.
(v) The well off section of people in urban areas got much of the benefits of globalisation.

Answer 2

MY DEAR HERE IS YOUR ANSWER

Globalization and greater competition among producers has been advantageous to consumers
(a) Globalization and greater competition among producers both local and foreign has been of advantageous to consumers, particularly the welloff sections of urban areas.
(b) There is greater choice before these consumers who now enjoy improved quality and lower prices for several products.
(c) People enjoy higher standards of living.
(d) But the impact of globalization has not been uniform among producers and workers.
(e) Services of the top Indian companies have been able to benefit from the increased competition.
(f) They have invested in newer technology and production methods and raised their production standards.
(g) Wide ranging choice of goods in our markets is a recent phenomenon and have brought changes in lives of people.

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