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Why does globalization lead to reduction in prices for gods and serives?
Globalization leads to a reduction in prices for goods and services primarily due to increased competition and economies of scale. As markets open up and companies expand internationally, they can source materials and labor from regions where costs are lower, reducing production expenses. Furthermore, the influx of foreign competition drives domestic companies to lower their prices to remain competitive. This dynamic ultimately benefits consumers by providing access to a wider variety of products at lower prices.
What means that the countries must depend on each other for goods and services?
Globalization
The process of globalization involves an increase in what?
The mobility of goods, services, labor, and capital
What determines the prices of goods and services in the product market?
Supply and demand. Supply and demand determines the prices of goods and services in the market.
Who decides on the prices of goods and services in china?
Ryan radebe
What happens when there is an increase in prices for goods and services combined with a reduction in the value of money?
When there is an increase in prices for good and services combined with a reduction in the value of money it is known as inflation.
Why does globalization lead to reduction in prices for gods and serives?
Globalization leads to a reduction in prices for goods and services primarily due to increased competition and economies of scale. As markets open up and companies expand internationally, they can source materials and labor from regions where costs are lower, reducing production expenses. Furthermore, the influx of foreign competition drives domestic companies to lower their prices to remain competitive. This dynamic ultimately benefits consumers by providing access to a wider variety of products at lower prices.
What means that the countries must depend on each other for goods and services?
Globalization
The process of globalization involves an increase in what?
The mobility of goods, services, labor, and capital
What determines the prices of goods and services in the product market?
Supply and demand. Supply and demand determines the prices of goods and services in the market.
An overall rise in the prices of goods and servies?
Inflation is an overall rise in the prices of goods and services. When the usual price level rises, each unit of currency buys fewer services and goods.
Who decides on the prices of goods and services in china?
Ryan radebe
What does a government do in a socialist country?
set prices for goods and services
What does the government do in the socialist country?
set prices for goods and services
What effect can consumers behavior have on you?
You will pay higher prices on goods and services.
What are medieval blacksmith prices?
There may have been monetary costs, but just as often as not tradesman used barter as a means to exchange services for services, goods for services or goods for goods. In other words, they traded.
Is when a central authority controls prices and production of goods and services?
A command economy
