Globalization of Resource Markets Has Resulted in the Business Practice

question 5

Multiple Choice

Globalization of resource markets has resulted in the business practice of offshoring, which involves:

• A) Only an outflow of jobs away from the U.S.
• B) No possible expansion of jobs in the U.S.
• C) Huge losses to consumers in the U.S.
• D) Both an outflow as well as an inflow of jobs in the U.S.

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Definitions:

Human Interpretation

The process by which individuals understand or make sense of information, symbols, language, and actions based on their cognitive and subjective frameworks.

Macrosociology

The analysis of large-scale social systems and structures, such as the economy, polity, and population.

Microsociology

The subfield of sociology that focuses on the interactions and social relations among individuals at a small-scale, everyday level.

Unintended Consequences

Outcomes that are not the ones foreseen or intended by a purposeful action, often contrary to the original intentions.