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With the globalisation of markets, the tastes and preferences of consumers world-wide are
  • a)
    becoming similar to the tastes and preferences of American consumers.
  • b)
    being encouraged by multinational organizations to become increasingly similar.
  • c)
    so different that they can be ignored by international organizations.
  • d)
    converging upon a global norm.
Correct answer is option 'D'. Can you explain this answer?
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With the globalisation of markets, the tastes and preferences of consu...
Globalisation is a continuing process of economic restructuring, which has led to an increasing cross-border flow of trade in goods, services and financial assets, along with an increasing international mobility of technology, information and individuals.
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Explanation:

The correct answer is option D: The tastes and preferences of consumers worldwide are converging upon a global norm. This means that with the globalization of markets, consumers around the world are becoming more similar in their tastes and preferences.

Reasoning:

1. Globalization of Markets:
The process of globalization has led to increased interconnectedness and integration of markets worldwide. This means that products and services are now available to consumers in different countries, allowing them to explore and experience a wide range of options.

2. Exposure to American Culture:
American culture, through various forms of media and marketing, has a significant influence on consumers worldwide. American movies, TV shows, music, and brands are widely distributed and consumed, leading to the exposure and adoption of American tastes and preferences.

3. Cross-Cultural Exchange:
As consumers from different countries interact and engage with each other, there is a natural exchange and diffusion of ideas, trends, and preferences. This cross-cultural exchange leads to the blending and convergence of tastes and preferences, creating a global norm.

4. Standardization by Multinational Organizations:
Multinational organizations often strive for standardization to streamline their operations and cater to a global customer base. In order to achieve economies of scale and cost efficiencies, these organizations may encourage the adoption of similar tastes and preferences across different markets.

5. Homogenization of Consumer Culture:
The increasing interconnectedness and accessibility of global markets have resulted in the homogenization of consumer culture. As consumers are exposed to similar products, brands, and marketing strategies, their tastes and preferences tend to align with those of consumers in other parts of the world.

Conclusion:
In conclusion, with the globalization of markets, the tastes and preferences of consumers worldwide are converging upon a global norm. This is influenced by factors such as exposure to American culture, cross-cultural exchange, standardization by multinational organizations, and the homogenization of consumer culture. As a result, the differences in consumer preferences across different countries are becoming less pronounced, leading to a more uniform global consumer market.
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With the globalisation of markets, the tastes and preferences of consumers world-wide area)becoming similar to the tastes and preferences of American consumers.b)being encouraged by multinational organizations to become increasingly similar.c)so different that they can be ignored by international organizations.d)converging upon a global norm.Correct answer is option 'D'. Can you explain this answer?
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With the globalisation of markets, the tastes and preferences of consumers world-wide area)becoming similar to the tastes and preferences of American consumers.b)being encouraged by multinational organizations to become increasingly similar.c)so different that they can be ignored by international organizations.d)converging upon a global norm.Correct answer is option 'D'. Can you explain this answer? for Humanities/Arts 2024 is part of Humanities/Arts preparation. The Question and answers have been prepared according to the Humanities/Arts exam syllabus. Information about With the globalisation of markets, the tastes and preferences of consumers world-wide area)becoming similar to the tastes and preferences of American consumers.b)being encouraged by multinational organizations to become increasingly similar.c)so different that they can be ignored by international organizations.d)converging upon a global norm.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Humanities/Arts 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With the globalisation of markets, the tastes and preferences of consumers world-wide area)becoming similar to the tastes and preferences of American consumers.b)being encouraged by multinational organizations to become increasingly similar.c)so different that they can be ignored by international organizations.d)converging upon a global norm.Correct answer is option 'D'. Can you explain this answer?.
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