When Did Globalization Really Begin to Take Place Worldwide

question 40

Multiple Choice

When did globalization really begin to take place worldwide?

• A) with development of Internet
• B) in 1980s
• C) with advent of colonialism
• D) with the Age of Discovery
• E) with Industrial Revolution

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Definitions:

Marginal Revenue

The additional revenue that a firm receives from selling one extra unit of a product or service.

Demand Schedule

A Demand Schedule is a tabular representation of the relationship between the price of a good or service and the quantity demanded by consumers, underlining the law of demand.

Patents

Legal documents granting an inventor exclusive rights to produce, use, and sell an invention for a certain number of years.

Research And Development

A business or government activity that involves the study and creation of new products, services, or discoveries.