Globalization Can Be Either a Threat or Opportunity for Organizations

question 54

True/False

Globalization can be either a threat or opportunity for organizations, depending on their ability to adapt to relevant changes.

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Definitions:

Output Markets

Markets in which goods and services are exchanged.

Product Market

The marketplace where final goods or services are offered to consumers, businesses, and the public.

Output Market

The output market is the marketplace in which goods and services produced by firms are sold or exchanged, contrasting with input markets where firms buy resources needed for production.

Labor

The physical and mental effort used to produce goods and services.