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.