Which of the following statements is true about the implications of technological innovations for the globalization of markets?
A) Technological innovations have facilitated the globalization of production, but have failed to facilitate the globalization of markets.
B) Though technological innovations are ushering in the "global village," significant national differences remain in consumer preferences, and business practices.
C) Technological innovations have caused the rise of communism across the globe.
D) Technological innovations have failed to create global markets for consumer products.
E) Technological innovations have increased the cost of communication which is hampering globalization of markets.

Question

Quizplus · Accepted Answer

While technological innovations have indeed facilitated the globalization of production, national differences in consumer preferences and business practices remain significant barriers to the globalization of markets. The concept of the "global village" may be taking shape, but it is far from fully realized.

Which of the Following Statements Is True About the Implications