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>
Answer:
A sense of "Canadian Unity", and a sense of Nationalism are important to Canada because they help Canada be more cohesive.
Canada is a multiethnic nation, where many cultures live together, and a sense of "Canadian Unity" and Nationalism helps integrate those different cultures so that they can co-exist in the same Canadian territory in a peaceful, and democratic manner.
Answer:To be a poor man is hard, but to be a poor race in a land of dollars is the very bottom of hardships." I feel this quote is very important to the book. The quote speaks for itself, it's hard enough to be the lowest class of ones society, but being looked down by people makes matters worse.
Explanation:
Answer:
new resources could change the way of life.
Explanation:
the Greeks wanted silk from the Chinese because it was highly valued. it changed the way some of the Greeks lived.
