There Are Five Major Kinds of Globalization Drivers, All Based

question 43

True/False

There are five major kinds of globalization drivers, all based on changes that are leading international firms to the globalization of their operations.

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Definitions:

Expected Value

The average outcome of a random event when considering all possible outcomes and their probabilities.

Probability

The measure of the likelihood that an event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Von Neumann-Morgenstern Utility Function

A utility function theory based on expected utility, fundamental in making rational decisions under uncertainty, emphasizing outcomes' probabilities.

Probability

The measure of the likelihood that an event will occur.