Global events, like financial troubles or pandemics, can change how local businesses operate. Here are a few examples:
Recession Effects: When the global economy slows down, it means less demand for products we sell to other countries. This can lead to people losing their jobs at home.
Supply Chain Issues: Things like natural disasters can mess up the way products are made and moved around the world. This can hurt local businesses that rely on these supplies.
Rising Prices: When the prices of raw materials go up globally, it can make things more expensive for local shops. In turn, this affects how much people choose to spend.
By understanding these links, we can see just how connected our economies are!
Global events, like financial troubles or pandemics, can change how local businesses operate. Here are a few examples:
Recession Effects: When the global economy slows down, it means less demand for products we sell to other countries. This can lead to people losing their jobs at home.
Supply Chain Issues: Things like natural disasters can mess up the way products are made and moved around the world. This can hurt local businesses that rely on these supplies.
Rising Prices: When the prices of raw materials go up globally, it can make things more expensive for local shops. In turn, this affects how much people choose to spend.
By understanding these links, we can see just how connected our economies are!