question_answer

  How have globalisation and greater competition amongst the producers been  of advantage to consumers? Explain any three points in this regard.

Answer:

                  Globalisation and greater competition amongst  the producers has been of advantage to consumers because (a) Companies have invested in new technology to raise their production quality to compete with the MNCs, thus ensuring that consumers get better A quality products. (ii) Prices of goods have gone down due to competition. (iii) Indian companies have collaborated with MNCs to produce more functional products, thus benefiting the consumer.