Question

Global competition exists when Group of answer choices a firm produces and markets its products domestically rather than globally. firms originate, produce, and market their products and services worldwide. two firms from two different countries compete for market share in a single domestic market. two or more firms from different nations combine their resources to market products in a single domestic market. the firm from one nation dominates the market for its product in every nation.

Answer 1

firms originate, produce, and market their products and services worldwide.

Step-by-step explanation:

Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace. Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.

Some examples of international economic organizations involved in global economy and trade are;

World Trade Organization (WTO).

United Nations (UN).

International Monetary Fund (IMF).

Global competition exists when firms originate, produce, and market their products and services worldwide.