Advantages and Disadvantages of Global Market

One advantage of global market is the increased variety. Before you may have only had the choice between two brands of a certain item, but now, thanks to the internet, you have the option of buying one of hundreds of brands and versions of a product from anywhere in the world. Because we have more options, producers have more competition. This causes prices to fall which seems like a good thing, but it can have many unwanted effects. If prices fall, then profit may fall if sales quantities do not increase. Because companies are not making as much money they do budget cuts often including lay offs. Sometimes, companies may even move factories to other countries where labor is cheaper. This means not as many jobs are available and more Americans are out of work. So over time, advantages may become disadvantages.