Question

Economic globalization forces local companies to compete with the best quality at the lowest price. As a result, products get ______________ businesses and more people.

A) upgraded
B) downsized
C) outsourced
D) globalized

Answer 1

Products get outsourced due to economic globalization, which allows companies to reduce costs by moving jobs to countries with cheaper labor, causing competition to rise and impacting job markets in developed countries.

Step-by-step explanation:

Economic globalization forces local companies to compete with the best quality at the lowest price. As a result, products get outsourced by businesses and reach more people. Outsourcing and offshoring are strategies used by companies to decrease costs by moving parts of their operations, including manufacturing and service jobs, to countries with cheaper labor markets.

This intensifies competition by putting global and local firms in direct competition, which can lead to job losses in the developed countries as work is transferred to developing countries with lower wages.

Answer 2

Economic globalization has resulted in local companies outsourcing to compete on quality and price, leading to job shifts and increased competition from abroad.

Step-by-step explanation:

Economic globalization forces local companies to compete with the best quality at the lowest price, leading to products getting outsourced by businesses and affecting employment levels for more people. The forces of globalization, coupled with advances in communications and information technology, have escalated competition among firms by increasing exposure to competitors from diverse regions and countries. As multinational corporations seek lower costs, they tend to move factories and jobs to other countries, a process known as outsourcing, resulting in lower job availability in developed countries. This outsourcing trend has been further facilitated by trade agreements like NAFTA and the growing prevalence of service jobs over manufacturing jobs in places like the United States.