________ refers to the tendency of firms to extend their sales, ownership, and/or manufacturing to new markets abroad.
A) Market development
B) Globalization
C) Export growth
D) Diversification

Question

Quizplus · Accepted Answer

Globalization refers to the process of extending business operations to new markets abroad, including sales, ownership, and manufacturing. Market development refers specifically to expanding sales within existing markets, while export growth refers only to increasing exports to foreign markets. Diversification refers to expanding into new product or service lines, not necessarily to new international markets.

________ Refers to the Tendency of Firms to Extend Their