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Avani Patel

I'm cybersecurity en...ย โ€ขย 9m

I have question about Chinese products why is it so cheapest? Can someone give me explanation about it?

Abu TALHA zahid atz

Hey I am on Medialย โ€ขย 9m

Well that is an amazing and interesting question. The Chinese products are cheaper because they are having economy of scale that is their costs of Factors of Production is reduced due to producing in higher quantity. Also their government provide subsides to producers which give them edge of charging lower prices and capturing more of the market share. Also their labour is well trained and having latest level of technology so thier production effectiency improves which also results in lower waste materials which also add up to charge lower prices.One last thing is that the components they require for production is also produced in China which give edge to overall china products.

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