Which of the Following Statements Is True of Globalization

question 23

Multiple Choice

Which of the following statements is true of globalization?

• A) It expands economic freedom and increases the living standards of people.
• B) It increases prices and decreases product and service quality.
• C) It has curbed the growth of the middle class in developing countries.
• D) It leads to a monopoly of domestic producers.

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Definitions:

Authority of the Principal

The legal right or power given to an agent to act on behalf of a principal in business transactions.

Estoppel

A legal principle that prevents a person from arguing something contrary to a claim or a fact that has been previously established as the truth.

Apparent Authority

A form of authority that a third party reasonably believes an agent has due to the actions of the principal, even if the agent does not have actual authority.

General Sales Agent

An individual or company authorized to sell or distribute a manufacturer's products in a specific area or market.