Explain any three advantages of globalization.

Three advantages of globalization:

1. Consumers now enjoy numerous choices, better quality and lower prices for most of the products.

2. Numerous jobs have been created by the work of the MNCs and local companies collaborating with them also have earned huge profits.

3. Many top Indian companies have improved technology and production methods due to competition. Some of them have become MNCs themselves like Infosys and Ranbaxy.

Explanation: Globalisation has had numerous effects in many ways but has mainly benefitted the economy as a whole, specifically the industrial sector.