Answer this question… Localized economies give communities more control over the goods and services they produce.
Answer this question… Localized economies are less reliant on multinational corporations for their essential goods.
The company can offer goods more cheaply than smaller retailers
The company can offer goods more cheaply than smaller retailers.
ongoing increases in trade between nations
An economy is said to have a comparative advantage in producing a particular good when it can produce that good at a lower opportunity cost compared to other economies. This means that the economy can produce the good more efficiently or with fewer resources, allowing it to specialize in producing that good and trade with other economies for mutual benefit.
Answer this question… Localized economies are less reliant on multinational corporations for their essential goods.
The company can offer goods more cheaply than smaller retailers
The company can offer goods more cheaply than smaller retailers.
ongoing increases in trade between nations
An economy is said to have a comparative advantage in producing a particular good when it can produce that good at a lower opportunity cost compared to other economies. This means that the economy can produce the good more efficiently or with fewer resources, allowing it to specialize in producing that good and trade with other economies for mutual benefit.
Generally speaking, since the countries that are engaging heavily in the globalized market are wealthier European or European-style countries, the most globalized countries are disproportionately democracies. However, there are a number of key players in the globalized market, such as China, Vietnam, Russia, and Turkey* are widely seen as being non-democratic.*People debate whether or not Turkey is an illiberal democracy or a dictatorship masquerading as a democracy.
Most mixed economies can be described as market economies with strong regulatory.
Why might developed economies want to outsource manufacturing and other jobs to developing economies?
An economy can have a comparative advantage in the production of one good when it can produce that good at a lower opportunity cost compared to other goods. This means that the economy can produce the good more efficiently, allowing it to specialize in that particular product and trade with other economies for goods in which they have a comparative advantage.
A newly globalized country is actively participating in international trade and investment, which can bring economic growth but also expose it to greater economic risks. In contrast, a non-globalized country may have limited exposure to global markets, potentially resulting in slower economic development but also offering more protection from external economic shocks.
Entrepreneurs in underdeveloped countries increase economies by employing others. The more people management employs, the more they help their community.
A unit bank has advantages that branch banks cannot offer, such as more personalized service geared to its clientele. The employees of unit banks have the advantage of being able to get to know their consumers and have the ability to customize their products to meet the needs of their localized economy.