Globalization Can Best Be Defined as

question 33

Multiple Choice

Globalization can best be defined as

• A)a process involving the production,distribution,and consumption of technological,political,economic,and socio-cultural goods and services.
• B)the collapse of space and time due to electronic media,which has enabled people to interact and experience life on a global scale.
• C)the increased difficulty of communicating with others across cultures.
• D)regionalism within countries.

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Definitions:

Direct Material

Raw materials that can be directly traced to the production of a specific product and are a part of its finished composition.

Opportunity Costs

The cost of forgoing the next best alternative when making a decision.

Financial Statements

Reports that summarize the financial performance and position of a company, including the balance sheet, income statement, and cash flow statement.