Critics of the View That Regionalization Will Prevail Over Globalization

question 19

Multiple Choice

Critics of the view that regionalization will prevail over globalization most likely base their argument on the belief that ________.

• A)regionalization is a transition stage toward globalization
• B)neighboring countries are more apt to disagree politically than distant countries
• C)neighboring countries are too geographically similar to benefit from trade
• D)business in non-territorial areas is not regional

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Definitions:

Supply

The total amount of a specific good or service that is available to consumers.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a particular price over a given period of time.

Equilibrium Price

is the market price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Technology

The application of scientific knowledge for practical purposes, especially in industry, which drives innovation, efficiency, and productivity improvements.