Question

Which of the following scenarios describes an advantage of a global economy?

A car company makes its products in a country known for high manufacturing requirements.
A lightbulb company expands to a country where potential workers all have the same educational background.
An electronics company manufactures products in a country where the materials cost is high.
A toothpaste company expands to another country where there is a lot of competition for jobs.

Answer 1

The scenario which describes an advantage of a global economy is: D. A toothpaste company expands to another country where there is a lot of competition for jobs.

A global economy is also referred to as globalization and it can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace. Basically, a global economy makes it possible for various companies to produce goods and services that are being used by consumers across the world.

On a related note, a global economy leads to economic prosperity for various companies in different countries because it ensures an increase in market efficiency while creating employment opportunities for the people who are seeking employment in that country.

Hence, a toothpaste company expanding its business to another country where there is a lot of competition for jobs describes an advantage of a global economy.

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