Final answer:
The prices we see on the internet often directly compete and outcompete offline prices, due to increased competition brought about by technology and globalization.
Step-by-step explanation:
The prices we see on the internet nowadays often directly compete and outcompete offline prices. This is primarily due to the increased competition brought about by the advancements in technology and globalization. With the development of the internet, consumers can order products from anywhere in the world, allowing for more options and competitive pricing.
For example, online retailers like Amazon have lower overhead costs compared to brick-and-mortar stores, which allows them to offer lower prices. They can also leverage their large customer base to negotiate better deals with suppliers, further reducing costs.
In addition, online platforms often provide easy price comparisons and access to customer reviews, allowing consumers to make informed purchasing decisions. This transparency and convenience further contribute to the competitiveness of online prices.