Globalization Has Been Occurring on the Earth for Over 500

question 5

Multiple Choice

Globalization has been occurring on the earth for over 500 hundred years. The basic idea of globalization is how the world is connecting as a unit. Which of the following is not an example of the three acknowledged globalization phases

• A) Trade between Native Americans and Europeans in the 17^th C
• B) Worldwide trade system with London at the center in mid-19^th C to early 20^th C
• C) Emergence of a global economy in the late 1980's that created a need for global governance and had an impact on cross cultural adaptation.
• D) The World Series in baseball

---

Definitions:

Gross Margin

The difference between sales revenue and the cost of goods sold, usually expressed as a percentage of sales revenue.

Net Operating Income

Income generated from regular business operations, excluding deductions for interest and taxes.

Manufacturing Overhead

All indirect costs associated with the manufacturing process, including costs related to factory equipment maintenance, factory management salaries, and utilities.

Period Cost

Expenses that are not directly tied to the production process and are charged to the period in which they occur, such as selling and administrative expenses.