Question

Product made from a global organization? Provide a brief description of the product and the organization that develops the product. What are the advantages and disadvantages of the product sold internationally? What would be the advantages and disadvantages if the product were sold solely in the United States?

Answer 1

There are various products nowadays that are sold globally which include IKEA, Coca Cola, I phone and many more.

Advantages

1)global competence

by selling products globally company or particular sect of people get advantages to learning new techniques which increase their knowledge and enhance their capabilities.

2) Increase in Demand and an increase in employment

by selling globally there is a great chance that it will increase employment as the demand for product increases. hence increases the opportunity

3)Boost the GDP or GNP of the economy by exporting more products

Disadvantage

1) Different countries with different rules and regulations

2)different country different taste and preferences

If the product sold in the USA only

Now if the product is sold only in the USA then it has the advantage in form of increasing employment to their residents only as well as they don't have to spend much time in understanding the rules and regulations of the country as they are itself the part of the country

The disadvantage is in the form that its demand will decrease as we know that marginal utility keeps on decreasing as we increase the consumption of that good. so, it will result in the fall of National income and GDP of the economy as they are not exporting that product or good (say here IKEA).

Now i

as for example IKEA which produces different varieties of furniture so it has to give some time to understand the culture and ethnicity of those countries and have to follow different rules and regulations to run the market.