Respuesta :
International competition has advantages and disadvantages, but it has more benefits than drawbacks for our economy. International competition reduces the cost of goods produced because of cheaper labor in foreign countries. This means lower costs for consumers. International competition mostly reduces job opportunities for unskilled labor. So, people are more willing to pursue higher education or training that will enable them to get skilled jobs. Skilled jobs earn higher wages than unskilled jobs. This increase in wages leads to improvement in the overall standard of living as well as economic growth.
International competition has both advantages and disadvantages, but it has more benefits than drawbacks for our economy.
What is the term International Competition about?
International competition reduces the cost of goods produced because of cheaper labor in foreign countries.
Moreover, because of this competition more Unskilled workers lost their jobs. People are more willing to get higher education or training that will enable them to get skilled jobs.
Automatically more and more employment competition occurs this will leads to affect the economic growth of workers.
Learn more about international competition, refer to the link:
https://brainly.com/question/25220382
