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Question 58 - CITM-001 discussion

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Which are the three impacts of Globalization? (Choose three)

A.

Rationalized manufacturing

Answers
A.

Rationalized manufacturing

B.

Managing risk across currencies

Answers
B.

Managing risk across currencies

C.

Worldwide purchase

Answers
C.

Worldwide purchase

D.

Security concern

Answers
D.

Security concern

E.

Theft

Answers
E.

Theft

Suggested answer: A, B, C

Explanation:

Globalization is the process of increasing economic, political, and cultural integration and interdependence across the world. Some of the impacts of globalization are:

Rationalized manufacturing: Globalization enables firms to produce goods and services in different locations according to their comparative advantages, such as lower costs, higher quality, or better access to markets. This leads to more efficient and competitive production, as well as increased specialization and trade.

Managing risk across currencies: Globalization exposes firms and individuals to fluctuations in exchange rates, which affect the value of their assets, liabilities, and incomes. To manage this risk, they may use various financial instruments, such as hedging, derivatives, or currency swaps, to reduce their exposure or benefit from favorable movements.

Worldwide purchase: Globalization expands the range and availability of goods and services that consumers can purchase from different countries and regions. This increases consumer choice, lowers prices, and improves quality and variety. It also creates opportunities for cross-cultural learning and exchange.

https://www.nationalgeographic.org/article/effects-economic-globalization/

https://byjus.com/commerce/globalisation/ https://byjus.com/commerce/globalisation/

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asked 18/11/2024
Devon Woods
37 questions
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