According to Our Textbook,the Growing Integration of the World Economy

question 10

Multiple Choice

According to our textbook,the growing integration of the world economy is:

• A) increasing the intensity of competition within the home market of a company in a wide range of manufacturing and service industries
• B) decreasing the intensity of global competition in manufacturing industries, and increasing the intensity of domestic competition in services
• C) increasing the intensity of global competition in manufacturing industries, and decreasing the intensity of domestic competition in services
• D) narrowing the scope of global competition in a wide range of service, commodity, and manufacturing industries
• E) Widening the opportunities for competing with manufacturing companies within their home market and narrowing the opportunities for competing with service companies in their home market.

---

Definitions:

Overapplied Overhead

Refers to a situation where the applied (or allocated) manufacturing overhead costs are greater than the actual manufacturing overhead costs incurred.

Underapplied Overhead

Underapplied overhead occurs when the allocated manufacturing overhead costs are less than the actual overhead costs incurred.

Raw Materials

Basic substances in their natural, modified, or semi-processed state, used as an input to a production process for manufacturing finished goods.

Production

Production is the process of creating goods and services by combining labor, materials, and technology to meet consumer demand.