Edzy
Single Answer MCQ
Q-00015740

What is one negative impact of foreign goods entering a local market?

1

Increased market competition leading to better prices

2

Loss of local jobs due to reduced demand for domestic products

3

Enhanced consumer choice

4

Improved quality of domestic goods

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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

B. Loss of local jobs due to reduced demand for domestic products

Solution:

When foreign goods enter a local market, they can lead to reduced demand for domestic products, which might cause local producers to struggle, resulting in job losses.

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