In the Context of Competing in the Global Economy, Globalization

question 10

Multiple Choice

In the context of competing in the global economy, globalization suggests that the:​

• A)​presence of a uniform workforce curtails competition.
• B)world is divided by borders and diverse cultures.​
• C)world is free from national boundaries and is borderless.​
• D)organization's nationality is held strongly in consciousness.​

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Definitions:

Excludability

Excludability is a property of a good or service that allows its owner to prevent others from using it without permission, which is important for classifying goods in economic terms.

Public Good

Services or commodities made available to every person in a society free of cost, courtesy of either the government or non-governmental organizations, devoid of profit objectives.

Marginal Benefit

Marginal Benefit is the additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.

Marginal Cost

The supplementary expense associated with creating an additional unit of a product or service.