Globalization Strives to Reduce Costs by Pooling Production or Other

question 27

True/False

Globalization strives to reduce costs by pooling production or other activities or exploiting factor costs or capabilities within a system.

---

Definitions:

Escalating Commitment

The phenomenon of individuals or organizations continuing to invest in a decision, project, or course of action despite evidence of its failure.

Anchoring Bias

A cognitive bias where an individual depends too heavily on an initial piece of information (the "anchor") when making decisions.

Escalating Commitment

A behavioral pattern where an individual or organization continues to follow a failing course of action due to emotional attachment or the desire to justify prior investments.

Heuristics

Mental shortcuts or rules of thumb that simplify decision making by reducing complex problem-solving to simpler judgment processes.