What is one major advantage of globalization?
Understand the Problem
The question is asking about the benefits of globalization, which refers to the integration and interdependence of economies, societies, and cultures across the world. One major advantage often discussed is the increase in trade and access to a larger market, which can lead to economic growth and innovation.
Answer
Lowering production costs.
One major advantage of globalization is that it allows companies to find lower-cost ways to produce their products.
Answer for screen readers
One major advantage of globalization is that it allows companies to find lower-cost ways to produce their products.
More Information
This advantage results from the ability of companies to move production to countries with lower labor costs, reducing overall expenses and leading to more affordable goods for consumers.
Sources
- Globalization Benefits and Challenges - velocityglobal.com
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