This is the example of globalization of product.
- Globalization of production refers to the free flow of capital, labor, commerce, and other components of economic production throughout the world. It refers to the manufacture of items in more than one site.
- Globalization enables businesses to find lower-cost manufacturing methods. It also boosts global competition, which pushes down costs and gives customers more options. Lowering expenses enable individuals in both underdeveloped and wealthy nations to live more comfortably on less money.
- Globalization reduces manufacturing costs in general.. This means that businesses may provide things to customers at a lesser price. The average cost of things is an important factor that leads to rising living standards. Consumers may also purchase a greater range of things.
Thus this is the meaning of globalization of product.
To learn more globalization of product, refer: https://brainly.com/question/27807024
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