Understanding Business, 10th Edition

Published by McGraw-Hill Education
ISBN 10: 007352459X
ISBN 13: 978-0-07352-459-7

Chapter 3 - Doing Business in Global Markets - Developing Workplace Skills - Page 86: 2

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For businesses, the disadvantage of global trade is competition, for literally anyone across the globe can compete against your business. With this being said, the advantage is that the business has more ways to produce the given product. After all, certain metals and parts are cheaper when made in different parts of the world, so businesses benefit from being able to trade with foreign nations.
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