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Q.

Firms are producing and selling their products in various countries all over the globe because of :

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a

Liberalisation

b

Globalisation

c

WTO

d

None of these

answer is B.

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Detailed Solution

Firms are producing and selling their products in various countries all over the globe because of globalisation. Trade is no longer limited to the home country. Today, the world market consists of a lot of MNCs. People are exporting their products to the world and importing from various 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. This process is known as Globalisation.

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