what are two components of environment and what is globalisation and it's advantages ?
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Answer:
The following are some of the important advantages of globalisation for a developing country like India: (i) Globalisation helps to boost the long run average growth rate of the economy of the country through: (a) Improvement in the allocative efficiency of resources; (b) Increase in labour productivity; and.
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The 'two main components' of the environment are the 'biotic factors' and the 'abiotic factors'. The biotic factors are the forms of life that occupies the environment whereas the abiotic features are the various factors that are present in the environment. Globalization allows companies to find lower-cost ways to produce their products. It also increases global competition, which drives prices down and creates a larger variety of choices for consumers. Lowered costs help people in both developing and already-developed countries live better on less money