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What is globalization? What modes of international business are used by firms that want to globalize? Briefly describe each method.
Mass Production
The large-scale manufacturing of large quantities of products, often using assembly lines or automated technology to achieve efficiency.
Quality Control
A process through which a business seeks to ensure that product quality is maintained or improved, involving the detection of errors.
Confidence Interval
A variety of values, obtained through statistical analysis of samples, posited to likely hold the value of an unknown population parameter.
Population Proportions
Measures that represent the fraction of individuals in a population that exhibit a particular characteristic or attribute.
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