Final answer:
A consortium is a group of organizations that join forces to develop new products and processes for world markets, leveraging a blend of expertise and resources.
Step-by-step explanation:
A consortium is the correct term for a confederation of organizations that band together to research and develop new products and processes for world markets. A consortium typically involves various stakeholders, including companies, universities, and other institutions, collaborating on large projects that may be too complex or costly for one entity to handle alone. This collaboration helps leverage diverse expertise and resources to innovate and create new products that aim to meet the demands of global markets effectively. A consortium is a group of organizations that join forces to develop new products and processes for world markets, leveraging a blend of expertise and resources.