ECON 401 Assignment 1, version B- Globalization of markets: Moving away from an economic system in which national markets are distinct and entities, isolated by trade barriers and barriers of distance, time and culture, and towards a system in which national markets are emerging into one global market. Example: McDonalds having to adapt their menus to people changing preferences. In order to stay competitive, McDonalds had to adapt a healthier menu. Also McDonalds realized that their customers…
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