Globalisation by connecting countries leads to:a)lesser competition among producersb)greater competition among producersc)no competition between producersd)none of theseCorrect answer is option 'B'. Can you explain this answer?

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Humanities/Arts Exam > Humanities/Arts Questions > Globalisation by connecting countries leads t...

Globalisation by connecting countries leads to:

a)
lesser competition among producers
b)
greater competition among producers
c)
no competition between producers
d)
none of these

Correct answer is option 'B'. Can you explain this answer?

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Globalisation by connecting countries leads to:a)lesser competition am...

Globalisation and Competition among Producers

Increased Connectivity: Globalisation connects countries through trade, investment, and technology transfer.

Access to Larger Markets: Producers now have access to larger global markets due to reduced trade barriers.

Greater Competition: With increased connectivity and access to global markets, producers face greater competition from both domestic and international competitors.

Efficiency and Innovation: Competition among producers drives efficiency and innovation as companies strive to differentiate themselves and offer better products and services.

Consumer Benefits: Increased competition often leads to lower prices for consumers and a wider variety of choices.

Challenges for Small Producers: While globalisation can benefit larger producers, small producers may struggle to compete with larger companies that have greater resources and economies of scale.

Therefore, globalisation leads to greater competition among producers, pushing them to constantly improve and innovate to stay competitive in the global marketplace.

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