Describe the Four Stages of Business Globalization

question 65

Essay

Describe the four stages of business globalization.Why do most companies stop when they reach the third stage?

---

Definitions:

Protective Tariffs

Taxes imposed on imported goods to protect domestic industries from foreign competition by making imports more expensive.

Transcontinental Railroad

was a train route across the United States, completed in 1869, which revolutionized transportation and communication, contributing to the country's economic growth and westward expansion.

Hands Off Approach

A policy or attitude where interventions or regulations by governments in business or economic matters are minimized.

Economy

The system by which goods and services are produced, distributed, and consumed within a society or area.