“Globalisation and competition among producers has been of advantage to the consumers”. Give arguments in support of this statement.
"Globalisation and competition among producers has been of advantage to the consumers". Give arguments in support of this statement
GREATER competition among producers both local and foreign producers has been advantage to consumers, particularly the well-off sections in the urban areas.
- There is greater choice before the consumers. They now enjoy improved quality and lower prices for several products.
- Different countries of the world freely import and export goods and services and interact among themselves.
- Globalisation promotes competition between countries.
- Globalisation creates opportunities for all and also ensures that the benefits of globalisation are shared better.
- With the result, cost of production comes down and this will benefit the consumers most.
- Countries those who have lowered barriers on tariff, they gained in employment and national income.
- Rapid improvement in technology has been the major factor to bring in globalisation.
- Development in information technology has also helped a lot.
- E-mail and voice mail allow instant contract with buyers and sellers of the globe.