Business In The International Economy Essay

717 words - 3 pages


1. If demand price elasticity measures 5,this implies that consumers would:
2. Economic profit is:
3. In the long run, a monopolistic competitive firm will operate at a price that:
4. Which of the following would NOT be considered an example of foreign direct investment (FDI)?
5. In terms of international business, market globalization can be viewed as a ------------.
6. Which of the following statements is true about the firm-level consequence of market globalization?
7. Peter, a graduate student from Michigan, ordered a notebook from Opus Inc., an ...view middle of the document...

* This is turn made it possible to acquire products which were not within reach for most.
For Example: Earlier the common man cannot effort to buy electronics but nowadays the technology grown up around the world even un developed countries, so common people can buy and use electronics for example television, mobile phones ect.

* Setting up cutting edge technology industry and exposure to sophisticated measurement practices have a highly beneficial impact on local business, which then started making their presence felt in overseas markets.
* The global market philosophy has also enhanced cultural perception and sensitivity between peoples of various countries.
* Increased market size has allowed economics of scale, vendering cheaper products which go a long way in reducing the gap in life styles of peoples of developed and developing nations.
* The mutual co-operation and interdependent of nations tends to reduce chances of government which result in the common man feeling secure and confident.
Market Globalization impact on consumer lifestyles and following examples:
Example 1:
* International newspaper journalist and editors, whenever they describe globalization by using pictures of American brands coca-cola and McDonald’s. To demonstrate the process of globalization, actually the...

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