globalisation has been advantages to both producer and consumer in India explain the statement critically
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Globalization has benefited the producers and the consumers in the following ways:
Globalization has led to an intense increase in industrial competition. As a result, producers are falling over each other to provide better and cheaper services to the consumers. This has also resulted in reduction in the prices.With the initiation of globalization, producers now have relatively free access to international markets. Also, they can now avail more easily of the credit facilities forwarded in terms of capital and technology.This is illustrated by the example of the electronic goods and garments industry. The process of globalization has benefited both the producers and consumers in these fields.
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Globalisation made greater competition among producers both local and foreign producers -has been of advantage to consumers particularly in well off sections in urban areas.There is a greater choice before these consumers who now enjoy improved quality and lower prices for several products. As a result these people today enjoy much higher standards of living than was possible earlier .
(Remaining Answer in your economics textbook page no:66 & 67)
hope it helps!
(Remaining Answer in your economics textbook page no:66 & 67)
hope it helps!
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