Question

Globalisation has widened the gap between the consumers."" Elaborate. Which value is affected here?

Answer 1

Answer:

Globalisation is the interconnection between counties through the expansion of foreign trade and foreign investment. It is the process of integrating the home country with foreign countries through the movement of goods, services, investment, technology and people.

Globalisation has resulted in the integration of the markets in different countries. It will give a lot of opportunities and openings for the domestic producers and consumers to reach out beyond the domestic market. Producers can sell their commodities to buyers from around the world. Consumers also have the choice to select commodities produced beyond the domestic markets. The prices tend to be equal in both the markets gradually. Thus, it widens the markets for both produces and consumers and helps in connecting the markets worldwide.

Answer 2

Globalization has widened the gap between consumers

Explanation:

Globalization has resulted in rising inequalities in income and wealth distribution. The benefits of globalization does not reach the rural people as much as the urban people enjoy it. Also globalization does not give as much benefits to the poor as it does to the rich. Because of the strong demand for various essential goods and increased competition, prices have risen and the poor are adversely affected. The value of providing fair and equal opportunity is affected here.