Economic globalization, multinational corporations, and the global factory are all terms describing important parts of the world economy. Define these terms and describe how they affect how business is conducted.

What will be an ideal response?


The ideal answer should include:
1. Economic globalization: The growing tendency for goods and services to be produced in one nation or region and consumed in another.
2. Multinational corporations: Corporations that have their headquarters in one country but pursue business activities and profits in one or more foreign nations.
3. Global factories: Made possible by two kinds of technology: high-speed transportation and component production.
4. Has created a 24/7 economy, lines between work and family are blurring, and jobs are being outsourced.

Sociology

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Sociology