Despite the Globalization of Production and Markets, Many of the Most

question 39

True/False

Despite the globalization of production and markets, many of the most successful companies in certain industries are still clustered in a small number of countries.

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Definitions:

Short Run

A period in economics where the quantities of some inputs or resources cannot be changed.

Unemployment

A situation where individuals who are capable of working and willing to work at prevailing wage rates cannot find employment.

Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, subsequently eroding purchasing power.

Friedman

Refers to Milton Friedman, a prominent economist known for his work on monetarism, advocating for free markets and a limited role of government in the economy.