“Globalisation by connecting countries results in greater competitio

1.	“Globalisation by connecting countries results in greater competition among producers.” Justify the statement.
Answer» 1. Globalization is a major change that occurred across the globe in the late 20th century. This has political, cultural as well as economic dimensions. 2. An MNC does different operations related to its business at different locations across the globe. 3. An MNC is able to take advantage of cost benefit and also of easier access to important markets. 4. There is a greater choice before the consumers who now enjoy the improved quality and lower prices for several products. 5. Competition held between local producers and foreign companies.

“Globalisation by connecting countries results in greater competition among producers.” Justify the statement.

Answer»

1. Globalization is a major change that occurred across the globe in the late 20th century. This has political, cultural as well as economic dimensions.

2. An MNC does different operations related to its business at different locations across the globe.

3. An MNC is able to take advantage of cost benefit and also of easier access to important markets.

4. There is a greater choice before the consumers who now enjoy the improved quality and lower prices for several products.

5. Competition held between local producers and foreign companies.

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