SSC
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Globalisation has led to higher standards of living of:
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well-off consumers
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poor consumers
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big producers
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small producers
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Explanation:
Detailed explanation-1: -(i) The producers now have a large number of well-off buyers. (ii) They have invested in newer technology and production methods and raised their production standards. (i) There is greater choice before consumers who now enjoy improved quality and lower prices for several products.
Detailed explanation-2: -Consumers can quickly get product and services by anywhere. Globalization has brought multiple producers and corporations competing for their own stake in the economy. This is a benefit to the consumer as the quality of goods and services should increase and price of product are decrease as a result.
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