The phase of the globalization process characterized by imports from foreign suppliers and exports to foreign buyers is called the:
A) domestic phase.
B) multinational phase.
C) international trade phase.
D) import-export banking phase.

Question

Quizplus · Accepted Answer

The phase referred to in the question is known as the international trade phase, where countries engage in the exchange of goods and services across borders through imports and exports. The other options (domestic phase, multinational phase, and import-export banking phase) do not accurately describe this particular phase of globalization.

The Phase of the Globalization Process Characterized by Imports from Foreign