Which of the Following Has Enabled Globalization of Markets

question 72

Multiple Choice

Which of the following has enabled globalization of markets?

• A) Differentiation amongst national markets
• B) Falling barriers to cross border trade
• C) Reduced homogeneity of material culture across the world
• D) Increased government ownership of factors of production

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Definitions:

Number Of Buyers

A factor influencing demand in a market, representing the total count of consumers willing to purchase a product or service.

Supply Curve

A graphical representation showing the relationship between the quantity of goods suppliers are willing to sell and the price of those goods.

Expansion Of Production

The increase in the output of goods and services by a firm or economy, typically involving larger quantities of products or expansion into new markets.

Production Costs

The total expenses incurred in the manufacture of a product, including raw materials, labor, and overheads.