ENTREPRENEURSHIP

Detailed explanation-1: -In general, globalization decreases the cost of manufacturing. This means that companies can offer goods at a lower price to consumers. The average cost of goods is a key aspect that contributes to increases in the standard of living. Consumers also have access to a wider variety of goods.

Detailed explanation-2: -Globalization allows companies to find lower-cost ways to produce their products. It also increases global competition, which drives prices down and creates a larger variety of choices for consumers.

Detailed explanation-3: -Globalization changes the way nations, businesses and people interact. Specifically, it changes the nature of economic activity among nations, expanding trade, opening global supply chains and providing access to natural resources and labor markets.

Detailed explanation-4: -Indian consumers now have access to a large variety of goods as opposed to the economic phase before globalization when only a few options were available to Indian consumers. Higher disposable income: Globalization has led to opportunities where people can earn higher incomes in cities.