How has globalization benefited the well-off consumers?

1.	How has globalization benefited the well-off consumers?
Answer» Globalisation has been advantageous to consumers in the following ways:(i)\xa0Globalisation has led to employment generation, as a result, beneficial to the consumers.\xa0(ii)\xa0Globalisation 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.\xa0(iii)\xa0The 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. 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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