Final answer:
Globalization in business is indeed facilitated by advancements in information technology, which help reduce costs and improve long-distance economic connections for information-based products and services.
Step-by-step explanation:
The statement that globalization of business has been facilitated by improvements in information technology is True. The interconnected nature of modern business is largely due to advancements in various technologies. Innovations in shipping and air cargo have reduced transportation costs, making it more feasible to move goods globally. Similarly, advancements in computing and telecommunications have dramatically lowered the costs and increased the ease of managing long-distance transactions. Information-based products can easily be distributed globally thanks to digital networks. Additionally, international trade treaties have further encouraged this widespread interconnectedness.