Problem 5

Introduction

International commerce enables nations to extend their marketplaces and get access to commodities and services that might otherwise be unavailable in their own country. The market has become more aggressive as a result of global commerce. As a result, pricing becomes more comparable, and the consumer receives a lower-cost product. The emergence of the world economy was aided by international commerce. World affairs influence and are influenced by market forces, and consequently pricing, in the world economy.

Low-income nations were classified in 1985 as all those with a per capita income of less than $400.