Globalization Is a Relatively New Phenomenon Triggered by the Information

question 38

True/False

Globalization is a relatively new phenomenon triggered by the information revolution of the late 1980s.

Apply the criteria of successful comparative inference to evaluate the validity of comparisons.

Recognize the application of comparative reasoning in various contexts, including scientific, legal, and everyday reasoning.

Differentiate between strong and weak comparative reasoning using the criteria of simplicity, testability, and comprehensiveness.

Explain the role of familiarity in enhancing the effectiveness of comparative reasoning.

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Definitions:

Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, eroding purchasing power over time.

Environmental Scanning

The process of collecting, analyzing, and using information about trends, events, and relationships in an organization's external environment to assist in planning.

Firm's Control

The extent to which a business can influence or dictate its operational environment, including internal processes and external market conditions.

Sociocultural Changes

Alterations in the social and cultural aspects of a society, which can impact consumer behavior, business practices, and market trends.