Global competition refers to when
A) a firm produces and markets its products worldwide rather than in its own domestic market.
B) firms originate, produce, and market their products and services worldwide.
C) two firms from two different countries compete for market share in a domestic market.
D) two or more firms from different nations combine their resources to market products globally.
E) the firm from one nation dominates the market for that product in every other nation.

Question

Quizplus · Accepted Answer

Global competition refers to firms originating, producing, and marketing their products and services worldwide. Option B is the only choice that accurately describes this concept. Option A refers to international marketing, which is a subset of global competition. Option C describes domestic competition, rather than global. Option D describes international joint ventures or partnerships, which are not the same as global competition. Option E describes market dominance, rather than competition.

Global Competition Refers to When