Globalization Is Defined as the Process of Countries Becoming ________

question 214

Multiple Choice

Globalization is defined as the process of countries becoming ________ open to foreign trade and ________ open to foreign investment.

• A)more; less
• B)more; more
• C)less; more
• D)less; less

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Definitions:

Legally Sufficient Consideration

Value that the law recognizes as adequate to support a contract, ensuring that each party agrees to give or do something of value.

Economic Duress

A condition in which one is forced to engage in a financial transaction due to threats or pressures, rendering the agreement involuntary.

Irrevocable Offer

An offer that cannot be withdrawn or canceled by the offeror for a specified period, assuming the offeree has given some consideration in exchange for the offer's irrevocability.

Merchant

An individual or entity engaging in the selling of goods or services professionally or commercially.