The key assumption of economics is that all societies must transform nature through labor into goods that they can exchange or consume (Anderson, 467). Advantages of globalization that concern economics include ease of restrictions on trade, free movement of goods and services, and maximized economic efficiency and profits. Education and employment opportunities are advantages as well. A common disadvantage of globalization effecting the economy is that it is making the rich richer and the poor poorer (“Globalization,”
The key assumption of economics is that all societies must transform nature through labor into goods that they can exchange or consume (Anderson, 467). Advantages of globalization that concern economics include ease of restrictions on trade, free movement of goods and services, and maximized economic efficiency and profits. Education and employment opportunities are advantages as well. A common disadvantage of globalization effecting the economy is that it is making the rich richer and the poor poorer (“Globalization,”