how avoid the growing of white hair
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Globalisation brings a number of potential benefits to international producers and national economies, including:
Providing an incentive for countries to specialise and benefit from the application of the principle of comparative advantage.Access to larger markets means that firms may experience higher demand for their products, as well as benefit from economies of scale, which leads to a reduction in average production costs.Globalisation enables worldwide access to sources of cheap raw materials, and this enables firms to be cost competitive in their own markets and in overseas markets. Seeking out the cheapest materials from around the world is called global sourcing. Because of cost reductions and increased revenue, globalisation can generate increased profits for shareholders.Avoidance of regulation by locating production in countries with less strict regulatory regimes, such as those in many Less Developed Countries (LCDs).Globalisation has led to increased flows of inward investmentbetween countries, which has created benefits for recipient countries. These benefits include the sharing of knowledge and technology between countries.In the long term, increased trade is likely to lead to the creation of more employment in all countries that are involved.Similar questions
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