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Global economic competition

How does global economic competition impact the decisions related to the strategy a firm uses to compete? Why do most economists oppose trade restrictions? Explain

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How does global economic competition impact the decisions related to the strategy a firm uses to compete?
Global economic competition impacts the decisions related to the strategy a firm uses to compete. The reason is that as trade barriers fall international competition increases. For instance, if foreign competitors are competing on price, this environment affects the decisions related to strategy. The firm has to base its decision on the basis of market reality. For instance, if there is a jeweler in the US and is ...

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Global economic competition is discussed very comprehensively in this explanation..

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