Choose whether the statement is true/false.

Globalization has benefited consumers.

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True

False

answer is A.

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Detailed Solution

The above statement is true.
Globalization and greater competition among producers, both local and foreign producers, have been advantageous to consumers. Before globalization, the production of goods was limited to its home country only. But now, firms are producing and selling their products in various countries all over the globe. People are exporting their products to the world and importing from countries across the globe. Many countries export their goods to India, and we can see many foreign products in Indian markets. That’s why Indian buyers have more choices of goods than they did two decades back. Now, the latest models of mobile phones, televisions, and automobiles are present in the Indian market.

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