Question

What is one advantage and one disadvantage of the global economy for American workers?

Answer 1

An advantage is that American workers can be paid higher wages for the work they do which is also more specialized. A disadvantage of that at the same time is that they get less jobs in the end as its cheaper to employ workers overseas in China. 

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Answer 2

One advantage and one disadvantage of the global economy for American workers is as follows-

1. Advantage

• The work allocated to them requires specialized knowledge which brings them higher earnings. The workers having the essential skills can do a job for huge sums of money.

2. Disadvantage

• Since the labour and human capital is now available at lower wages and prices, they are given preference for employment purposes. This leads to a fall in job opportunities and income sources.