Question

How are producers of commodities like clothing or food affected differently by globalization than consumers?

Answer 1

Answer:

Producers of commodities can be benefited or affected by globalization, while consumers are always benefited.

Explanation:

When domestic producers of a commodity produce at a higher price than the world price, they are affected because demand for their commodities fall, since consumers flock to the cheaper alternative: the commodities that are sold at the lower gold price.

The opposite occurs if domestic producers' prices are lower than the world price: they are benefited because consumers flock to them.

Consumers, on the other hand, are always benefited because they can opt to buy the commodities at the lowest price possible thanks to the increased specialization and competition that globalization brings to the market.

Answer 2

Producers of commodities can be affected by globalization, while on the other hand, consumers are always benefited.

Reason of clothing or food affected differently by globalization than consumers:

At the time when domestic producers of a commodity generated at a higher price as compared to the overall price, so this should be impacted since the demand should decline. Now in the case when the price of the domestic producer should be less than the price so it will be benefited to the consumers.

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