Globalization reduces production costs in general. This allows businesses to sell items to customers at a lesser cost. The average cost of items is an important factor that leads to rising living standards. Consumers may also choose from a greater range of products. Firms in less industrialized nations have more opportunities to access more and larger markets throughout the world as a result of globalization. As a result, firms in developing nations have more access to finance, technology, and human resources, as well as lower import costs and broader export markets.
