Why does globalization lead to a reduction in prices for goods and services?

Question

Why does globalization lead to a reduction in prices for goods and services?

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2022-04-10T08:39:52+00:00 0 Answers 0

Answers ( 2 )

  1. Savannah
    0
    2022-04-10T08:41:06+00:00

    I believe the answer is:Increased mobility allows producers to move jobs to lower-cost labor markets

    In lower-cost labor markets, the producers could get more output of productions with lower overall salary.
    This would lower the cost they need to make a single product, which make them able to sell them on a lower price and still obtain a profit

  2. Lyla
    0
    2022-04-10T08:41:14+00:00

    Competition for jobs drives down wages, which helps companies lower their prices

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