Why Did Some Businessmen Criticize Globalization

question 46

Multiple Choice

Why did some businessmen criticize globalization?

• A) They believed it only benefited the United States and not the third world.
• B) They believed it created wealth in developing nations but not solutions for their other social needs.
• C) They thought it would ultimately threaten U.S.security by creating new sources of international power.
• D) They did not want to see the growth of private wealth in formerly Communist countries.

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Definitions:

Work in Process

Inventory category referring to goods that are in the process of being manufactured but are not yet completed.

Process Costing

Process costing is a method of assigning production costs to units of output in industries where the products are indistinguishable from each other and produced in a continuous process.

Weighted-Average Method

An inventory costing method that assigns an average cost to each unit of inventory, factoring in both the cost and quantity of goods available.

Material Cost

The total expense incurred to acquire materials used in the making of a product, including direct and indirect materials.