The Term "Globalization of Production" Refers to Convergence in Buyer

question 8

True/False

The term "globalization of production" refers to convergence in buyer preferences in markets around the world.

---

Definitions:

Federal Trade Commission

A federal agency established to enforce antitrust and consumer protection laws in the United States, preventing unfair or deceptive business practices.

Bait-And-Switch

A deceptive marketing tactic where a product or service is advertised at a low price to attract customers, who are then persuaded to purchase a more expensive item.

Advertise

To publicly announce or promote products, services, or events through various media channels to attract public interest or awareness.

Expensive Item

A product or article that is priced high in comparison to other similar items.