The most global of markets are for industrial goods and materials that serve a universal need around the world rather than for consumer products.

Question

Quizplus · Accepted Answer

This statement is true. Industrial goods and materials, such as steel, chemicals, and machinery, are essential for various industries worldwide and serve a universal need. Therefore, the market for these products is global, with suppliers and customers located in different parts of the world. In contrast, consumer products may have specific features or designs tailored to meet local preferences, leading to regional markets rather than a global market.

The Most Global of Markets Are for Industrial Goods and Materials