BUSINESS ENVIROMENT — OCM STD 12 Commerce — Question
Gujarat BoardEnglish MediumSTD 12 CommerceOCMBUSINESS ENVIROMENT2 Marks
Question
Why is globalization important?
✓
Answer
Globalization plays a major role in development of a country.
Economy of an undeveloped country or an underdeveloped country can be boosted through globalization. On the other hand, such countries can get the benefit of innovative and technologically advanced products of developed countries. This way economy of developed countries, also grow.
Globalization enables large scale production
Consumers get improvised, technically upgraded product at an economical price.
Opportunities of employment generation
Consumers get quality products and service at a low price