Which of the Following Has Been Reduced as a Result

question 88

Multiple Choice

Which of the following has been reduced as a result of globalization?

• A)Volume of goods and services
• B)Foreign exchange transactions
• C)Environment and labor laws
• D)Differences in material culture
• E)Regulation of markets

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Definitions:

Long Run

An economic period in which all inputs, including capital, can be adjusted, allowing firms to fully adapt to market changes.

Output

The total amount of goods and services produced by an economy or a production process over a certain period of time.

Marginal Cost

The cost of producing one additional unit of a product or service, which varies depending on the level of production.

Marginal Revenue

The boost in income derived from selling an extra unit of a good or service.