Question

Which of the following refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors such as labor, energy, land, and capital?

A. Globalization of markets
B. Containerization of production
C. Dispersal of production
D.Globalization of production
E. Industrialization of markets

Answer 1

Answer: Globalization of production

Step-by-step explanation: In simple words, production globalization refers to the free flow of factors of production from one economy to others.

The business firms nowadays face a lot of competition due to which they always seek for sources which can provide them low cost or better quality at same prices.

Thus, globalization helps these firms to take benefit of price difference in factors of production in different economies.