“Globalisation and greater competition among producers has been advantageous to consumers".Support the statement with examples.
GLOBALISATION and greater competition among producers-both local and foreign producers has been of advantage to consumers, mainly the well off sections in the urban areas.
- There is greater choice before consumers.
- Now they enjoy improved quality and lower prices for several products.
- As a result, people today, enjoy much higher standards of living.
- This has led to many employment opportunities.
- Many large scale industries have benefited due to competition as they have used new production methods and technology with the result benefit also goes to the consumers.
- Cost of production has gone down remarkably.