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3 advantages and disadvantages of globalisation

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3 advantages and disadvantages of globalisation

Posted by Abhijit Patgiri 5 years, 5 months ago

CBSE > Class 12 > Business Studies

1 answers

Gaurav Seth 5 years, 5 months ago

Advantages of Globalisation
(i) Globalisation has resulted in greater competition among producers-both local and foreign. This has improved the quality of products and lowered the prices.
(ii) A wider variety of goods are available in the market for consumers.

Disadvantages of Globalisation
(i) For a large number of small producers, globalisation has posed major problems. These producers were not able to free the competition from large foreign producers and hence several of such production units had to shut down, rendering workers jobless.
(ii) Workers in MNCs are employed on temporary basis . and laid off without any compensation during the slack period.

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