Discuss the Major Factors Propelling the Process of Globalization

question 91

Essay

Discuss the major factors propelling the process of globalization.focus particularly on telecommunication,information technology,and the integration of the world economy.

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Definitions:

Profit-maximizing

The method or tactic of modifying output and setting prices to maximize profits.

ATC

It refers to dividing the entire cost of production by the number of units produced to get the Average Total Cost.

AVC

The variable cost for each unit of production, known as Average Variable Cost.

AFC

Stands for Average Fixed Cost, which is the fixed costs divided by the quantity of output produced, illustrating how fixed costs spread over units decrease as quantity increases.