SSC MTS EXAM

Detailed explanation-1: -Producers in the two countries now closely compete against each other even though they are separated by thousands of miles! Foreign trade thus results in connecting the markets or integration of markets in different countries.

Detailed explanation-2: -G¨lobalisation and greater competition among producers have been advantageous to consumers.

Detailed explanation-3: -Globalisation and greater competition within the market have been of advantage to the consumers, particularly the well-off sections in the urban areas. 1. The consumers now enjoy the improved quality and lower prices for several products, thereby, leading to higher standards of living which were not possible earlier.

Detailed explanation-4: -Effect on small producers: Globalisation has hit the small producers because they are unable to compete with MNCs or the big producers or manufacturers. Several units have been shut down rendering many workers jobless. In India, From above description, it is clear that the impact of globalisation has not been uniform.