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How Have Changes in Technology Contributed To The Globalization of Markets and Production?

Technological advances have greatly contributed to the globalization of markets and production by facilitating communication and transactions between buyers and sellers worldwide. Changes in technology have allowed manufacturing and business operations to be conducted across international borders by making production processes more efficient and enabling collaboration between partners in different countries. Without the developments in technology that have reduced barriers to international trade and investment, the current level of global economic integration through worldwide production and marketing networks would not have been achievable.

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389 views1 page

How Have Changes in Technology Contributed To The Globalization of Markets and Production?

Technological advances have greatly contributed to the globalization of markets and production by facilitating communication and transactions between buyers and sellers worldwide. Changes in technology have allowed manufacturing and business operations to be conducted across international borders by making production processes more efficient and enabling collaboration between partners in different countries. Without the developments in technology that have reduced barriers to international trade and investment, the current level of global economic integration through worldwide production and marketing networks would not have been achievable.

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michaelabatralo
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We take content rights seriously. If you suspect this is your content, claim it here.
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eLMS QUIZ 2- GLOBALIZATION STI COLLEGE ROSARIO

1. How have changes in technology contributed to the globalization of markets and production?

The technology help being innovative and productive of the markets and production. It
can help the business industry to facilitate the delivery of the product, and the communication
between the markets and the consumers. It gives a smooth process to manufacture the product
or services. Technology has helped to boost and productivity even in the recent period of weak
global productivity growth. Buyers and sellers can now make transactions at any time and any
part of the globe. Technological change also affects investment. It is easily transferable to
developing countries where high tech production can be combined with low wages.

2. Would the globalization of production and markets have been possible without these
technological changes?

Technology is significant in the modern form of business globalization without these


technological advancement globalization would not be made possible or even achieved the
convenience services now a days. Because technology has help us in overcoming the major
hurdles of globalization and international trade. Also technology has enabled to software expert
to work collaborative over the network with companies from around the world.

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