Globalization allows companies to find lower-cost ways to produce their products. It also increases global competition, which drives prices down and creates a larger variety of choices for consumers. Lowered costs help people in both developing and already-developed countries live better on less money.
Answer:
<h3>the percentage change in quantity demanded divided by the percentage change in price.</h3>
Explanation:
- The basic feature of price elasticity of demand is to indicate that elasticity of demand of a good or a service change according to the change in the price of the good or the service.
- The price elasticity of demand measures the consumers' behavior of quantity demanded to a change in price. It is the percentage change in quantity demanded divided by the percentage change in price.
- Symbolically, it can be written as:
Elasticity of demand= 
Farming, stone buildings, quipus, and stone cutting.