In an Argument Against the Idea That Globalization Is Equivalent

question 69

Multiple Choice

In an argument against the idea that globalization is equivalent to homogenization,which of the following concepts could be employed?

• A) global supply chain and commodification
• B) glocalization and regionalization
• C) international division of labour and international trade
• D) transnationalism and rationalization

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Definitions:

Consignment

A business arrangement where goods are left in the possession of another party to sell, but ownership remains with the supplier until sold.

F.O.B. Destination

Seller pays or is responsible for the cost of freight to purchaser’s location or destination.

FIFO Method

First-In, First-Out method, an inventory valuation method where the first items purchased are the first ones sold, used in calculating cost of goods sold.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated as beginning inventory plus purchases minus cost of goods sold.