How does digitalisation help lower manufacturing costs in the circular economy ?

Globalization makes new forms of consumption possible, but the effects of globalization on an individual’s lifestyle vary based on many factors including socioeconomic status. In what ways is globalization experienced differently by people from wealthy countries compared to people in developing countries? How are producers of commodities like clothing or food affected differently by globalization than consumers?

What impact does technological change have on the economy?

Explain the characteristics of the under developed economies?