What are some challenges and benefits of living in a global society ?

Not all business practices are ethical, they also are unfair with their exchanges between smaller and larger economies.

Openness to trade brings many benefits to the supply side of the economy. These include: larger markets, greater specialization opportunities, and the increased ability to exploit economies of scale and scope; faster transmission of technology and innovation

by using  production possibilities graph.  opportunity costs are key expenses in financial matters and are utilized as a part of registering money saving advantage investigation of a venture. such expenses, be that as it may, are not recorded in the record books but rather are perceived in basic leadership by processing the money costs and their subsequent benefit or misfortune.

the factors that the economies of the muslim empires prosper were:

1- land trade routes-located between three continents  

2- sea trade routes

trade contributed to the spread of muslim empires, and with that islamic culture led to a growing feeling of internationalism resulted in the transfer of technology, science, and other cultural forms.