Question

What has brought about the availability of a greater choice of goods in the market for the consumer?

Answer 1

Answer:

Globalisation and development of trade have resulted in the availability of a greater choice of goods in the market for the consumer. Globalisation is the interconnection between counties through the expansion of foreign trade and foreign investment. It helps in the integration of the markets in different countries. It will give a lot of opportunities and openings for domestic consumers to reach out beyond the domestic market. 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, foreign trade widens the markets for consumers and helps in connecting the markets worldwide

Answer 2

Greater choice for consumers

Explanation:

Globalization has removed restrictions on foreign trade and investments in India. So trade and commerce has flourished and many domestic goods are now being sold all over the world and goods from all over the world are being marketed in India. It is a mutual development where consumers will have access to a wider choice of goods at cheaper prices as foreign goods can cheaper due to the use of modern technology.