Compared to workers in poor countries, workers in richer countries have: higher productivity and higher wages.

The seriousness of substitutes and complements in the market cannot be understated. Substitutes are products or services that can be used in place of each other, while complements are products or services that are used together. The presence of substitutes can lead to increased competition and lower prices, while complements can enhance the value of a product or service. Understanding the dynamics of substitutes and complements is crucial for businesses to stay competitive and adapt to changing market conditions.