Question

in some industries, technology drives globalization because the economies of scale necessary to reduce costs cannot be met by competing in domestic markets alone.

Answer 1

This statement is True; In some industries, technology drives globalization because the economies of scale necessary to reduce costs cannot be met by competing in domestic markets alone.

Globalization is the manner of interaction and integration amongst people, organizations, and governments global. Globalization has expanded for the reason that 18th century due to advances in transportation and communications era.

Why is globalization critical?

Globalization allows corporations to find lower-cost methods to produce their products. It also increases worldwide competition, which drives charges down and creates a larger sort of choices for customers. Decreased expenses assist human beings in each growing and already-advanced nations live higher on much less money.

How is globalization an amazing component?

Globalization consequences in extended change and decrease costs. It heightens competition inside domestic product, capital, and exertions markets, in addition to amongst countries adopting extraordinary trade and funding techniques.

How has globalization affected society?

Globalization is related to rapid and great human adjustments. The moves of humans from rural to city regions has extended, and the boom of towns within the growing international specially is connected to substandard residing for lots. Family disruption and social and home violence are increasing.

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