Globalization Is __________

question 96

Multiple Choice

Globalization is __________.

• A)a world in which every country consumes only what it produces for itself
• B)the integration of economic activities across national borders
• C)moving from a condition in which economies are linked to each other in various ways to economic isolation
• D)the flow of labor that adds to the pool of workers in one country while reducing it in another

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Definitions:

Optimal Credit Policy

The credit terms that balance the costs and benefits to the firm, maximizing profitability while minimizing risk.

Accounts Receivable Period

The average number of days it takes a company to collect payments owed by its customers, indicating the efficiency of a company's credit and collections policies.

EOQ Model

Economic Order Quantity Model, a formula used by businesses to determine the optimal quantity to order that minimizes total inventory costs.

Optimal Order Size

The quantity of stock that minimizes both ordering and holding costs in inventory management, often determined by the Economic Order Quantity model.