i was wondering the same thing
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Several factors contribute to the production of higher quality goods at a lower price, including economies of scale, technological advancements, efficient supply chain management, skilled labor, and competition in the market. By optimizing these factors, companies can reduce production costs and improve product quality, ultimately offering better value to consumers.
Lower transportation costs, economies of scale and lower wages qualify as such.
A horizontal merger can enhance market competitiveness and efficiency by increasing market share, reducing competition, and achieving economies of scale. This can lead to lower prices for consumers, improved product quality, and increased innovation.
A larger customer base enables retailers to pay lower prices for wholesale goods.
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LEDCs (Less Economically Developed Countries) are countries with lower income levels, higher poverty rates, and less developed infrastructure. MEDCs (More Economically Developed Countries) are countries with higher income levels, more advanced infrastructure, and a higher standard of living. EDCs (Emerging Economies or Economies in Transition) are countries that are in the process of transitioning from being less developed to more developed, often experiencing rapid economic growth.
Several factors contribute to the production of higher quality goods at a lower price, including economies of scale, technological advancements, efficient supply chain management, skilled labor, and competition in the market. By optimizing these factors, companies can reduce production costs and improve product quality, ultimately offering better value to consumers.
The exchange rate between different countries determines how much one country's currency is worth in another country's currency. It fluctuates based on factors like supply and demand, interest rates, and economic stability. Countries with stronger economies typically have higher-valued currencies, while those with weaker economies have lower-valued currencies. This can impact international trade, investment, and travel.
Efficiencies. Economies of scale. Lower costs.
Lower transportation costs, economies of scale and lower wages qualify as such.
Easy. Save it in a lower quality.
Inferior land refers to land that is of lower quality or less productive for agriculture or other uses compared to surrounding land. This could be due to factors such as poor soil quality, lack of water availability, steep terrain, or other limitations that make it less suitable for cultivation or development.
Most of the nations in the global south are located in Asia, Africa, Latin America, and the Caribbean regions. These countries are generally characterized by lower income levels, higher levels of poverty, and emerging economies compared to countries in the global north. The global south includes countries such as India, Brazil, Nigeria, and Indonesia.
Third world countries typically have lower levels of economic development, infrastructure, and access to healthcare and education compared to first world countries. They may also have higher rates of poverty and political instability. In general, first world countries have more advanced economies, better healthcare and education systems, and higher standards of living.
Farmers and artisans often struggle to compete with highly industrialized countries due to factors such as economies of scale, advanced technology, and access to global markets, which allow larger producers to lower costs and increase efficiency. Additionally, industrialized nations benefit from significant subsidies and infrastructure that small-scale producers in developing regions may lack. This disparity can lead to challenges in pricing, quality, and market access, making it difficult for smaller producers to thrive. Consequently, many local economies face threats to their traditional practices and livelihoods.
Like anything, you get what you pay for. Lower price = lower quality.