5
AssignmentMultiple Select

International Trade

Question 5 • IL-Economics

Which statements best describe how businesses can take advantage of globalization? Check all that apply.using lower labor costs in other countriescreating higher barriers to tradetransporting resources quickly from distant locationslimiting trade with other countriescommunicating more quickly with other countries

Answer
A
using lower labor costs in other countries
B
creating higher barriers to trade
C
transporting resources quickly from distant locations
D
limiting trade with other countries
E
communicating more quickly with other countries

Explanation

Globalization connects businesses with workers, suppliers, and customers around the world. Businesses can reduce costs by using lower labor costs in other countries, and improved transportation can move resources quickly over long distances. Faster communication also helps businesses coordinate with people in other countries. Creating higher trade barriers or limiting trade would restrict these opportunities, not help businesses take advantage of globalization.

AI-written and checked against the verified answer.

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