________ represent a major driver of market globalization.
A)Continued reductions
B)Export controls
C)Import controls
D)Prohibitive tariffs

Question

Quizplus · Accepted Answer

Continued reductions in trade barriers, such as tariffs, quotas, and other import/export controls, have significantly contributed to the process of market globalization by facilitating international trade and investment. These reductions have resulted in increased competition, specialization, and integration of markets across the world. Prohibitive tariffs and import/export controls (choices C and D) would have the opposite effect of limiting international trade, while export controls (choice B) are typically imposed by governments to restrict the export of certain goods and services for national security or other reasons, which could hinder market globalization.

________ Represent a Major Driver of Market Globalization