Impedance and sensitivity on speakers

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PearlJam

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Is there an easy to understand explanation on the pro's / cons for low vs high impedance on speakers and / or sound quality.  Why does one manufacturer make a 4 Ohm speaker instead of 8 Ohm, etc.

I tried Google, but it was not my friend in this instance.  Even a link to an article or so would help.
 
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