economicsChoose the given statement is True/FalseGlobalisation and competition among the producers have not been beneficial to the consumers.

Choose the given statement is True/False


Globalisation and competition among the producers have not been beneficial to the consumers.


  1. A
    True
  2. B
    False 

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    Solution:

    The given statement is false.
    Globalisation and competition among producers have indeed been beneficial for consumers. Globalisation has allowed consumers to buy products produced in any country. He can buy that product from any market, virtual or physical. Thus, consumers have multiple choices to choose from. With the availability of imported goods at a low cost, their standard of living has improved. With new technology, production has been efficient, and the quality of goods has improved. So, good-quality goods are now available to the consumer at low prices. In this way, globalisation has been beneficial to consumers.
    The correct statement would be that globalisation and producers' competition have benefited consumers.
     
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