Globalization strives to reduce costs by pooling production or other activities or exploiting factor costs or capabilities within a system.

Question

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Globalization aims to reduce costs by sharing or pooling production or activities, or by finding the most cost-effective factors or capabilities within a system. This can involve outsourcing, offshoring, or using technology to streamline processes and increase efficiency. Ultimately, the goal is to increase competitiveness and profitability by tapping into global resources and markets.

Globalization Strives to Reduce Costs by Pooling Production or Other