Question

Which statements best describe how businesses can take advantage of globalization? Check all that apply. using lower labor costs in other countries creating higher barriers to trade transporting resources quickly from distant locations limiting trade with other countries communicating more quickly with other countries

Answer 1

The answer is 1,3, 5.

and hopefully the answer is correct

Answer 2

The following statements describe the advantages that business can take from globalization:

• Using lower labor costs in other countries. This phenomenon has triggered the expansion of corporations towards developing countries where they can produce at a lower cost, increase their effectiveness and its potential to compete in prices.
• Transporting resources quickly from distant locations. It is another feature that makes production processes more efficient.
• Communicating more quickly with other countries, which also help businesses to make transactions much easier and quicker.

The other two options are not selected because they describe phenomena which are actually the opposite to what globalization has brought. On the first hand, globalization has brought markets closer and many trade barriers have been removed. On the other hand, the possibility of having trade partners all over the world has incredibly increased the volume of transactions in total and with other countries.