Question

What is one of the benefits of the current pattern of global trade?

A. Wealth is concentrated in developed countries.
B. Jobs are moved from developed to developing countries.
C. Consumers pay lower prices for goods and services.
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D. Economic growth in developing countries is slowing.

Answer 1

C. Consumers pay lower prices for goods and services.

Step-by-step explanation:

Global trade, often referred to as international trade involves the exchange of capital, goods, and services across international borders or territories based on the needs or wants of goods or services.

Thus various countries produces and exports goods and services where they have comparative advantage and import goods and services in areas or sectors they do not.

Hence, due to globalization getting market information is easier to access for everyone such that prices for goods and services are always in a competition. This in turn makes the public benefit from lower prices for goods and service