Which of the following is an advantage of globalization?

• A. Decreased flow of information between countries
• B. Reduced competition among firms
• C. Access to a wider variety of goods and services
• D. Increased barriers to international trade

Answer: (C)

Verified step by step guidance

1. Step 1: Understand the concept of globalization. Globalization refers to the process by which businesses, cultures, and economies become integrated and interdependent across international borders.
2. Step 2: Identify typical effects of globalization. These often include increased trade, greater flow of information, more competition among firms, and access to a wider variety of goods and services.
3. Step 3: Analyze each option in the problem: - 'Decreased flow of information between countries' contradicts globalization, which usually increases information flow. - 'Reduced competition among firms' is unlikely because globalization tends to increase competition by opening markets. - 'Access to a wider variety of goods and services' aligns with globalization's effect of expanding consumer choices. - 'Increased barriers to international trade' is opposite to globalization, which generally reduces trade barriers.
4. Step 4: Conclude that the advantage of globalization is the option that reflects increased consumer choice and market integration, which is 'Access to a wider variety of goods and services'.
5. Step 5: Remember that globalization promotes economic interconnection, leading to benefits such as more goods and services available to consumers, increased competition, and enhanced information flow.