Final answer:
Market dynamics have been significantly changed by the rise of technology and globalization, leading to increased competition in both consumer and business supply markets.
Step-by-step explanation:
The subject of the question pertains to how market dynamics have changed due to societal forces, notably the rise of technology and globalization. The advent of communications technologies, such as the internet, has allowed consumers to make purchases from businesses around the world, amplifying the competition faced by local retail businesses. Additionally, the impact of globalization has led to an increase in 'business-to-business' platforms that empower buyers and suppliers to connect on a global scale, thus escalating competition even further in business supply markets.