It means more jobs and lower prices for goods and services.

Globalization allows multinational companies to invest in locations where the number of sellers
are unable to meet with the number of demand for a particular good or services. In the case of
basic needs such as food, clothing and shelter if the number of people who produce basic needs
cannot meet with the demand of basic needs, then the producers have a bargaining power
which allows them to increase prices.

This is where multinational companies play their role in increasing the availability of goods and
services in the country, thus reducing the price making basic needs more affordable. Another
way globalization help less developed countries is by relocating companies operating in
countries where there is a surplus of labor into countries with shortage of labor. This will
ensure that unemployment gets reduced in the country with labor shortage

Actually, globalization has fabricated our world in such a way that now at today’s stage no
economy is economically independent.