Shock, explosions, electrocution
The answer is the first chapter in the Bible it is Genesis. Hope this helps.
In developing countries, labor is cheap and low wages are paid to employees. This enables firms to manufacture products at a low cost and, therefore, to fix low prices for them too. Such goods are exported because they become attractive in the international sphere due to their price. Domestic products from developed nations cannot compete in prices with those imports, because their production costs are much higher, specially the labor costs.
If domestic products cannot compete with imports, domestic firms will not be able to sell their products and this would lead to decrease in sales, a loss of profit and to an excess of employees that wil have to be dismissed.
<u>In absolute terms, low wages in a developing country reduce the production, income and employment levels in developed countries. </u>
The development of trade during the middle age increased thanks to the change given in the agriculture, which gave money, industry and markets a bigger importance in economy. The agriculture production was more than the consumption, which meant the creation of wider markets out of the areas. Besides, with the end of multiple wars, the population increased and new trade routes were created.
