Explain what is meant by the globalization of markets. Provide an example. What are the most global markets?
What will be an ideal response?
Answer: The globalization of markets refers to the merging of historically distinct and separate national markets into one huge global marketplace. It basically means that businesses have begun to sell and trade internationally. Examples of this would be like Coca-Cola, Starbucks, McDonalds, or Apple. They offer the same basic products worldwide to help create a global market. The most global markets are not markets for consumer products, but they are markets for industrial goods and materials that serve universal needs the world over.
You might also like to view...
Which of the following is a liability account?
A) Accounts Payable B) Prepaid Expense C) Salaries Expense D) Service Revenue
To make a communication more direct and easier to read, what writing style should be used?
A) Active voice B) Passive voice C) Sincere language D) Obsolete language E) Plain language