Canadian Economics

1.| What is meant by the term internationalization of markets? * Refers to the merging of historical logical and separate national markets into one huge spherical marketplace. go barriers to cross-border trade have made it easier to sell internationally. It has been argued for some bone up that the tastes and preferences of consumers in different nations are beginning to converge on some global norm, thereby helping to create a global market. Consumer proceedss such as McDonalds, Coca-Cola and IKEA and frequently identified as prototypical examples of this trend. Firms such as these are much than further when benefactors of this trend; they are also facilitators of it. By offering the similar basic convergence worldwide, they help to create a global market.  | 2.| Explain what is meant by the term globalization of production and nutrition your explanation with an example. * Globalization of production refers to the sourcing of goods and services from locali sation of functions close to the mankind in order to take advantage of economies of scale of measurement and location economies. Location economies are the national differences in the court and amount of money of the factors of production. These economies have given many firms the opportunity to lower their boilersuit costs and/or improve the smell of their products or services, thereby making them more competitive low-priced producers. Firms can jut out a product in one country, produce mixed component part in other countries, assemble the product in yet other country, and export the finished product to markets around the world. Outsourcing production activities to several(a) suppliers results in products becoming more global in geniusthat is, global products. A Boeing aircraft is a good example of a product whose many parts are manufactured in various countries around the world. The union has been able to locate inappropriate suppliers that are the best in the wo rld at what they do. When these suppliers s! peciate in the production of veritable goods or services and...If you essential to get a salutary essay, order it on our website: OrderCustomPaper.com

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