SSC
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Improvement in technology
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Competition among producers
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Creation of new job opportunities
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Availability of international market
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All of these
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Detailed explanation-1: -Potential benefits of globalization for the economy include increased choice, higher quality products, increased competition, economies of scale, increased capital flows, increased labor mobility and improved international relations.
Detailed explanation-2: -Overall, what are the advantages of globalization? The advantages of globalization are actually much like the advantages of technological improvement. They have very similar effects: they raise output in countries, raise productivity, create more jobs, raise wages, and lower prices of products in the world economy.
Detailed explanation-3: -Transfer of Technology. Better Services. Standardization of Living. Development of Infrastructure. Foreign Exchange Reserves. Economic Growth. Affordable Products. Contribution to World GDP Growth Rate. More items •12-Sept-2020