Asking Diagnostic Questions Such as Are There Economies of Scale,are

question 15

Multiple Choice

Asking diagnostic questions such as are there economies of scale,are there cheaper sources of raw materials,are there global sources of low-cost raw materials provide information regarding which globalization driver?

• A)Global markets
• B)Costs
• C)Competition
• D)Governments

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Definitions:

Opportunity Costs

Opportunity Costs represent the benefits a person or society foregoes by choosing one option over another, essentially the cost of what is given up to pursue a particular course of action.

Annual Maintenance

Regularly scheduled upkeep or repairs conducted yearly to ensure the optimal functioning and longevity of equipment, facilities, or systems.

Nightly Room Rates

The cost per night for staying in a hotel room, which can vary based on location, hotel classification, time of year, and amenities offered.

Fallacy of Composition

The logical error of assuming that what is true for a part is necessarily true for the whole.