In the context of globalisation, what does PPP stand for?

Correct option is C

Purchasing Power Parity (PPP) is an economic theory and a method used to determine the relative value of different currencies. PPP suggests that in the absence of transportation costs and other barriers, identical goods or services should have the same price when expressed in a common currency. This theory is used for comparing economic productivity and standards of living between countries.

Additional Information:

• PPP in Globalization: PPP is a crucial concept in the context of globalization as it helps compare the economic strength and living standards across different countries, adjusting for differences in price levels.
• Real-World Use: It is widely used by international organizations such as the World Bank and the IMF for comparing the income levels and cost of living between countries.

Other Options:

• Purchase Power Parity: This option is a misspelling of "Purchasing Power Parity." It is incorrect due to the incorrect wording.
• Purchasing Par Parity: This is incorrect due to redundancy and incorrect wording.
• Purchasing Par Parities: This option is incorrect as "par parities" is not a term used in economics or globalization.