what is fair globalisation? what r the steps taken to ensure fair globalisation?
how does foriegn trade lead to intergration of markets across country? explain with examples?
explain the term consumer?
explain the different rights give to consumers. give examples for the same
Fair globalisation means that the benefits of the globalisation must be shared by all equally.
For fair globalisation, government can have a great role: 1. It can support those producers who are very small and cannot compete with them. 2. They can also check labour laws. 3. If very necessary, government can still use some trade barrier for protection of some small producers. 4. It with other developing countries can negotiate with the WTO for fair globalisation.
Foreign trade leads to the integration of markets across country because by foreign trade countries that are very far now compete together closely. Eg: Japan is far country from India. Suppose Japan starts foreign trade with India. Then India and Japan will closely compete.
Consumers are participants in the market who purchase goods or services.
RIGHTS GIVEN TO CONSUMERS
1. Right to information: we have right to know the particulars of the good we buy like ingredients, batch no. manufacturer address, expiry date ... etc.
2. Right to choose: We have the right to choose whether to continue the service we receive or not.
3.Right to seek redressal: If we have got any damage from the product, we have the right to get compensation according to the degree of the damage.
4. Right to represent : We can represent in the consumer court to get justice.
I hope it helps you.