Question

Q1. "Globalisation and competition among producers has been of advantage to the
consumers." Give arguments in support of this statement.

Answer 1

Answer:

(i) More choice for consumers : Globalisation and competition among producers has enabled the consumer to have a wide range of choice available in market. For example, Chinese toys and Indian toys both are available. Consumer can compare quality, price, suitablility and safety for both type of toys. So consumer is ultimately benefitted.

(ii) Better job opportunities : Globalisation and competition among producers have given rise to better job opportunities for skilled persons. People can get better salary and facilities for the specialised skills in other countries.

(iii) Expansion of information and communication technology : Globalisation has facilitated improvement in information and communication technology like computers, internet, telephone including mobile phones etc.