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Single Answer MCQ
Q-00045521

How does global competition affect product prices in local markets?

1

Prices always increase

2

No effect on pricing

3

Prices may decrease due to greater competition

4

Prices stabilize without fluctuation

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Sandeep Chaturvedi

Sandeep Chaturvedi

CBSE Social Science & Humanities Reviewer

Social science and humanities educator with 14+ years of experience reviewing CBSE SST, economics, commerce, arts, and vocational content.

M.A. HistoryM.A. Political ScienceB.Ed.

Answer and Solution

Answer

C. Prices may decrease due to greater competition

Solution:

Global competition can lead to lower prices as companies must remain competitive, driving down costs and benefiting consumers through increased choices.

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