How has globalization benefited the well-off …

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How has globalization benefited the well-off consumers?

Posted by Shravan Patil 5 years ago

CBSE > Class 10 > Social Science

2 answers

Yogita Ingle 5 years ago

Globalisation has been advantageous to consumers in the following ways:

(i) Globalisation has led to employment generation, as a result, beneficial to the consumers.

(ii) Globalisation has also given rise to intense competition due to opening up of markets to foreign companies. As a result, this has led to the increase in product quality and decrease in the prices of the products.

(iii) The consumers have benefited from the arrival of MNCs as they have now larger choice in the goods that are available to them in the market.

0Thank You

Shravan Patil 5 years ago

Globalization benefited the well-off consumers as there is greater choice before these consumers who now enjoy improved quality and lower prices for several products. As a result, these consumers, today, enjoy much higher standards of living than was possible earlier.

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