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Globalization and Technology

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Questions and Answers

What is an example of outsourcing mentioned in the text?

Offshoring production to reduce transportation costs

Setting up subsidiaries in different countries for tax benefits

Outsourcing tasks to countries with lower labor costs or specialized expertise (correct)

Companies hiring local employees for specialized tasks

What has greatly facilitated economic globalization according to the text?

The internet and digital communication tools (correct)

The rise of multinational corporations

Advancements in transportation technology

Government policies promoting international trade

How does Coca-Cola's supply chain illustrate the interconnectedness of the global economy?

By limiting production to one country to reduce costs

By sourcing ingredients from various countries and manufacturing beverages in multiple locations globally (correct)

By exclusively sourcing ingredients from the United States

By avoiding international trade to maintain independence

What are the benefits of the practice of outsourcing and offshoring mentioned in the text?

Reducing costs for the company and providing employment opportunities in the outsourcing country Signup and view all the answers

What has opened up opportunities for businesses to reach customers globally according to the text?

Online shopping platforms like Amazon Signup and view all the answers

What is a key aspect of economic globalization according to the text?

International trade Signup and view all the answers

What is an example of international trade in goods mentioned in the text?

Export of automobiles Signup and view all the answers

What is a characteristic of transnational corporations (TNCs) as described in the text?

Operate in multiple countries Signup and view all the answers

What is a primary reason for companies outsourcing customer service operations to countries like India as mentioned in the text?

Lower labor costs Signup and view all the answers

What role do transnational corporations play in economic globalization according to the text?

Bringing products and services to different markets Signup and view all the answers