Question

How does globalization benefit the people of a country?

• A. Consumers get a variety of goods and services to choose from.
• B. With increase in multinational companies, employment opportunities also increase.
• C. Globalization increases gross domestic product of the country.
• D. Consumers get better quality products at affordable prices due to competition between producers.

Answer 1

Answer: (A), (B), (D)

Consumers get better quality products at affordable prices due to competition between producers.

Globalization gives a variety of options to consumers. They can find similar products all over the world. As globalization allows multinational companies (MNCs) to operate in many countries, it helps in increasing employment opportunities. MNCs also prove to be tough competitions to domestic producers, which forces them to improve efficiency and provide quality products at affordable prices.