Final answer:
The rapid exchange of information and advances in technology have contributed to the creation of a borderless world, increasing global competition and connectivity among businesses and consumers.
Step-by-step explanation:
In recent years, the speedy flow of information through technology has C) created a borderless world with global competitors, customers, and citizens. This phenomenon is largely the result of the forces of globalization and the advent of new communications and information technology. These developments have increased the level of competition faced by many firms by enabling competition from other regions and countries. Technology has not only enabled businesses to expand beyond traditional national boundaries, but it has also significantly altered cultural and economic landscapes worldwide.
Globalization, facilitated by advances in technology such as the Internet, personal computing, and high-speed communication networks, has led to increased international trade and the diffusion of technology across borders. It has also presented challenges and opportunities for both small and large firms. While the emergence of global markets might suggest a shift towards a 'winner-take-all' economy, it has also enabled smaller firms to reach international customers, thereby stimulating competition.