Explain any three advantages of globalisation

Explain any three advantages of globalisation.

GLOBALISATION and greater competition among local and foreign producers has been of advantage to consumers.

  • There is greater choice before the consumers. Now, they enjoy improved quality and lower prices of several products.
  • Consumers enjoy higher standards of living than was possible earlier.
  • It integrates countries through foreign trade and foreign investments by multinational companies.
  • Interconnections have many dimensions-cultural, political, social and economic.
  • There is an expansion of markets due to globalisation.
  • New techniques of production and modem technology taking place.
  • Globalisation has enabled some large companies to emerge as multinational themselves.
  • Globalisation has created new opportunities for companies providing services, mainly those involving IT.