As part of the rapid globalization of today's economy, companies are selling more domestically produced goods in international markets and ________.
A) taking a local view of their industry
B) purchasing more supplies abroad
C) reducing competition within their industry
D) downplaying concerns for social responsibility
E) competing solely in traditional marketplaces

Question

Quizplus · Accepted Answer

The first part of the statement indicates that companies are selling domestically produced goods in international markets, which suggests an increase in international trade. As companies engage in more international trade, they are more likely to purchase supplies abroad to reduce costs and increase efficiency. This is because purchasing supplies locally may not be cost-effective, particularly if the supplies are available at lower prices from international suppliers.
Option A) taking a local view of their industry, is not an appropriate choice, as companies engaging in international trade are likely to have a global perspective.
Option C) reducing competition within their industry, is not an accurate choice because engaging in international trade typically increases competition by exposing companies to a wider range of competitors.
Option D) downplaying concerns for social responsibility, is not an appropriate choice, as companies have become increasingly aware of the importance of corporate social responsibility and the impact their actions have on the environment and society.
Option E) competing solely in traditional marketplaces, is not an accurate choice because companies that engage in international trade are likely to expand their marketplaces beyond traditional ones.

As Part of the Rapid Globalization of Today's Economy, Companies