The globalization of production has caused firms to:
A) lower their market share.
B) lower their cost structure.
C) centralize their production process.
D) curb international competition.
E) limit the number of market segments.

Question

Quizplus · Accepted Answer

The globalization of production has enabled firms to lower their cost structure by taking advantage of lower labor costs, accessing more efficient production processes and technologies, and achieving economies of scale through larger and more diversified markets. This enables them to offer products at a lower price point and remain competitive in the global marketplace.

The Globalization of Production Has Caused Firms To