Global Business Development Review

Australian companies can reduce costs through globalisation by:

• Outsourcing production to countries with lower labor costs

• Increasing domestic production

• Focusing solely on local markets

• Reducing international trade

Profit margins might encourage an Australian company to manufacture overseas because:

• it reduces production costs.

• it increases local employment.

• it enhances product quality.

• it shortens supply chains.

Online shopping has affected consumer access to international markets by:

• Increasing accessibility and variety of products from different countries.

• Decreasing the availability of local products.

• Limiting consumer choices to domestic markets.

• Reducing the need for international shipping.

Social media plays a significant role in global consumer purchasing by:

• influencing buying decisions through reviews and recommendations

• having no impact on consumer behavior

• increasing the cost of products

• limiting access to global markets

Digital products facilitate international growth by:

• Reducing shipping costs

• Eliminating language barriers

• Providing global accessibility

• Increasing local employment

What is a key requirement of free trade agreements under WTO rules?

• Elimination of tariffs and quotas

• Imposition of trade barriers

• Subsidizing local industries

• Restricting foreign investments

Deregulation impacts bank lending by:

• increasing competition and lowering interest rates

• decreasing competition and raising interest rates

• having no effect on competition or interest rates

• increasing government control over banks

What barriers are removed through financial market deregulation?

• Regulatory barriers

• Technological barriers

• Cultural barriers

• Geographical barriers

Online shopping has affected consumer access to international markets by:

• increasing accessibility to a wider range of products

• decreasing the availability of local products

• making international shipping more expensive

• reducing the variety of products available

Digital products facilitate international growth by:

• Reducing shipping costs

• Eliminating language barriers

• Providing global accessibility

• Increasing local competition