Question

Economic globalization has worked in favor of consumers. Because of intense( ), producers strive to offer the best quality at the lowest price. Therefore, consumers get more value for their money. They have the option of buying ( ) products if they are unhappy with domestic products.

Answer 1

Answer:

Economic globalization has worked in favor of consumers. Because of intense competition, producers strive to offer the best quality at the lowest price. Therefore, consumers get more value for their money. They have the option of buying foreign products if they are unhappy with domestic products.

Explanation:

This statement is true. Globalization has allowed consumers to have easy access to a great variety of international products. These have not only become more common, but cheaper. Therefore, if a customer dislikes a domestic product, he is able to consume a foreign one instead. However, because of the different costs of production and wages among different countries, some nations and particular groups of people have benefitted from globalization more than others.