A major advantage of globalization is ____.

The advantage of increased competition brought about by globalization enables businesses to operate in a larger market beyond their domestic borders. This heightened level of competition drives innovation and efficiency as companies strive to differentiate their products and services to appeal to a broader audience. Additionally, consumers benefit from a wider variety of goods and services at potentially lower prices because businesses are motivated to optimize their operations and reduce costs in order to remain competitive globally. As new players enter the market and existing companies expand internationally, the overall market dynamism increases, resulting in better choices for consumers and improved economic conditions as firms adapt to stay relevant. This process ultimately contributes to economic growth and can lead to job creation, despite the challenges it may present to some local industries.