Explain the Concepts of "Globalization of Markets" and "Globalization of Production

question 70

Essay

Explain the concepts of "globalization of markets" and "globalization of production."

---

Definitions:

Planning Budget

A planning budget is a financial plan that estimates the revenue and expenses for a specific period, typically used as a guide for spending and saving.

Revenue

The total income generated by a business from its normal business operations, including sales of goods and services.

Planning Budget

A budget formulated at the beginning of the budgeting period that is based on planned operations and outputs.

Revenue

The total amount of income generated by the sale of goods or services related to a company's primary operations.