Final answer:
The claim that most businesses in developed economies are MNCs is false; MNCs are influential but do not represent the majority of companies. These entities operate internationally, influence local economies, and face various criticisms.
Step-by-step explanation:
The statement that the vast majority of businesses in developed economies are multinational corporations (MNCs) is false. In reality, MNCs, though highly influential and owning a significant share of the global economy, do not constitute the majority of businesses in developed economies. Most businesses are small to medium-sized enterprises that operate on a more local or national scale. Even though MNCs such as Apple, Amazon, and Exxon Mobil are prominent, with substantial impacts on jobs, trade, and the environment, they represent only a fraction of the total number of businesses.
Multinational corporations are distinguished by having operations in multiple countries and by influencing international affairs significantly. However, MNCs are often criticized for inequitable labor practices and for exerting excessive influence on local economies and legislation. While they do provide jobs and contribute to GDP growth, they also face accusations of fostering economic and cultural hegemony.