Final answer:
Global competition in the international marketplace has impacted business activities by increasing competition, expanding markets, and driving product improvement.
Step-by-step explanation:
In recent decades, the forces of globalization and new communications and information technology have greatly increased global competition in the international marketplace. This has had a significant impact on business activities. Here are some key effects of global competition:
- Increased competition: Businesses now face competition not only from local companies but also from companies in other regions and countries, making the business environment more competitive.
- Market expansion: Businesses have the opportunity to reach customers in different parts of the world, allowing them to expand their market and potentially increase their profits.
- Product improvement: In order to stay competitive in a global marketplace, businesses need to continuously innovate and improve their products.
Overall, global competition has pushed businesses to become more efficient, innovative, and customer-focused.